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    dawkins4's Avatar
    dawkins4 Posts: 1, Reputation: 1
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    #1

    Jun 10, 2007, 04:33 PM
    Accounting General Journal Entry
    Hi, My name is Janis. I would like to know I need to Journalize Transaction for May. I have a net income from April, do I enter the net income as my first transaction for May as cash debit and capital credit.

    Thanks, Janis
    Prashant8778's Avatar
    Prashant8778 Posts: 2, Reputation: 1
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    #2

    Jun 11, 2007, 10:12 AM
    Quote Originally Posted by dawkins4
    Hi, My name is Janis. I would like to know I need to Journalize Transaction for May. I have a net income from April, do I enter the net income as my first transaction for May as cash debit and capital credit.

    thanks, Janis
    No you should not pass that journal entry but u can pass like this

    Revenue a/c. dr
    To capital credit

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