Ask Question
16 June, 08:46

How to do a journal entry in accounting

+1
Answers (1)
  1. 16 June, 08:49
    0
    You should "Debit" one account in your general ledger and "Credit" another.

    Explanation:

    Example - you receive an invoice from your vendor for $100,000 (assuming non-VAT transaction). Your journal entry would look the following:

    Debit: Expense $100,000

    Credit: Accounts Payable $100,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “How to do a journal entry in accounting ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers