On June 1, 2021, Alan Harper buys a copier machine for his business and finances this purchase with cash and a note. When journalizing this transaction, he will a .make a compound entry. b make a simple entry. c use two journal entries. d list the credit entries first, which is proper form for this type of transaction.
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On June 1, 2021, Alan Harper buys a copier machine for his business and finances this purchase with cash and a note. When journalizing this transaction, he will
a |
.make a compound entry. |
|
b |
make a simple entry. |
|
c |
use two |
|
d |
list the credit entries first, which is proper form for this type of transaction. |
Compound journal entry is that entry in which more than one account is debited or credited to record transaction instead of passing separate entries.
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