When transactions are entered in a general journal, the asset accounts are listed first, followed by the liability and owner's equity accounts.

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19-12-2022
Business

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When transactions are entered in a general journal, the asset accounts are listed first, followed by the liability and owner's equity accounts.

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JitSen257 JitSen257 · Answer 1 · 2022-12-26T04:06:10-05:00

At the point when exchanges are placed in an overall diary, the resource accounts are recorded first, trailed by the risk and proprietor's value.

The first account title is indented about a half-inch from the left margin of the description column when a transaction is entered in a general journal.

In the general journal, transactions should be entered in what order?

A record of financial transactions is a general journal entry. These entries are entered in the same order that the transactions took place. Information about payments and cash receipts is typically found in general journals. They can also include sales, purchases, and inventory balances.

The account that appears first in a journal when a transaction is recorded is?

debit account title The title or titles of the debit accounts always appear first and on the left. The credit account title(s) consistently come after all charge titles are placed, and on the right. Below the debit accounts, the titles of the credit accounts will be indented. You will have somewhere around one charge (perhaps more).

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