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    sammu's Avatar
    sammu Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 4, 2009, 11:51 AM
    Journal Entry
    How to make Journal entry
    codyman144's Avatar
    codyman144 Posts: 544, Reputation: 31
    Senior Member
    		  
    #2

    Feb 4, 2009, 02:07 PM

    Is there a question here? Could you be more specific?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #3

    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.
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