Posted inStudy Material
Goods Destroyed by Fire Journal Entry: Examples & Insurance Claim
Fire is a loss for any business as their goods burn. In accounting, this loss after the filing must be properly recorded.…
Posted inStudy Material
Sold Goods on Credit Journal Entry: Simple Steps and Examples
When a business sells goods on credit, it permits the customer to take the goods immediately with the agreement to…
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Salary Payable Journal Entry: Examples, TDS and Tally Adjustments
The accounting at the time of recording salaries requires the recognition of both an expense as well as a liability. This is…
Posted inStudy Material
What is an Accounting System? Types, Basis & Role of Technology
Accounting system allows individuals and entities to document their monetary transactions. It indicates how much money comes in and how much goes…
Posted inStudy Material
Purchase Furniture Journal Entry: Journal Entry for Cash & Credit
Purchasing office furniture is a standard transaction to make in any enterprise. You should account for this transaction correctly in your books.…