Tag: General Journal
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Journals and Ledgers
Accounting is the process of recording economic activity and organizing this information in a format to inform owners about financial results. It all begins with the journals and ledgers.
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Bookkeeping – Adjusting Journal Entries (Lesson 67)
One of the many tasks for bookkeeper in their daily operations is reconciling accounts including bank accounts, accounts receivable, accounts payable and many others. Invariably, the balances are off and need adjusting. To reset or balance the account the bookkeeper must use an adjusting journal entry.