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-   -   Accounting General Journal Entry (https://www.askmehelpdesk.com/showthread.php?t=100167)

  • Jun 10, 2007, 04:33 PM
    dawkins4
    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
  • Jun 11, 2007, 10:12 AM
    Prashant8778
    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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