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sammu
Feb 4, 2009, 11:51 AM
How to make Journal entry

codyman144
Feb 4, 2009, 02:07 PM
Is there a question here? Could you be more specific?

pready
Feb 5, 2009, 01:04 PM
First you need to analyze the business transaction. An example is paid utilities bill.

Two accounts are affected here: One is the Utiilities Expense Account, and the other account is Cash.

The journal entry is:
Debit Utilities Expense for the amount paid.
Credit Cash for the amount paid.