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- Here are some examples of journal entries:
- Recording a sale transaction: When a business sells goods, it makes an entry to record this sale.
- Expense payment: Paying for expenses, like buying office supplies, is another transaction that needs recording.
- Adjusting accrued expenses: At the end of an accounting period, accrued expenses may need to be adjusted1.
- Business started (in cash): When a business commences and capital is introduced in the form of cash.
- Sales (credit): Recording sales made on credit.
- Purchases (credit): Recording purchases made on credit.
- Drawings (cash): Recording cash withdrawals by the owner.
- Asset purchase: Recording the acquisition of an asset.
- Depreciation: Adjusting for the depreciation of an asset.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Journal Entry Examples for Practice
- Example of a journal entry for recording a sale transaction When a business sells goods, it makes an entry to record this sale. ...
www.taxfyle.com/blog/accounting-journal-entry-exa…Journal Entry Examples
- 1. Journal Entry for Business Started (in cash) When a business commences and capital is introduced in form of cash. ...
- 2. Journal Entry for Sales (Credit) ...
- 3. Journal Entry for Purchases (Credit) ...
www.accountingcapital.com/journal-entries/journal … Journal Entry Examples - Accountingverse
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Nov 8, 2017 · Having a detailed understanding of how the journal entry works, we can now move on to practical examples to view the practical application of journal entries illustrated by the …
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