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Kaitlyn
16 July, 18:54
How to do a journal entry in accounting
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Adrienne Cantu
16 July, 22:08
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You should "Debit" one account in your general ledger and "Credit" another.
Explanation:
Example - you receive an invoice from your vendor for $100,000 (assuming non-VAT transaction). Your journal entry would look the following:
Debit: Expense $100,000
Credit: Accounts Payable $100,000
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