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5 types of journal entries
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Learn more about Bing search results hereOrganizing and summarizing search results for youThere are five types of journal entries:- Opening entries: These entries carry over the ending balance from the previous accounting period as the beginning balance for the current accounting period.
- Transfer entries: Transfer entries move, or allocate, an expense or income from one account to another.
- Closing entries
- Adjusting entries
- Compound entries
- Reversing entries
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