Accounting cycles - Section A: Accounting Transactions...

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Section A: Accounting Transactions Assignment 5 Translation The General Journal  The General Journal is called the book of original entry and the process of recording  transactions in the journal is called journalizing.  The following are the steps for  journalizing transactions: 1. The year is recorded at the top of the page and the month is recorded on the first  line in the first column of the date section.  This information is repeated for every  new journal page.    2. The date of the first transaction is entered in the second column in the date  section.    3. The name of the account(s) to be debited is entered in the description column  and the amount of the debit is recorded in the Debit column.  When more than  two accounts are involved in the transaction the entry is called a compound entry.    4. The name of the account(s) to be credited is entered on the next line and  indented.  The amount of the credit is recorded in the Credit column.   
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This note was uploaded on 10/22/2010 for the course BUSINESS BAIU09 taught by Professor Mr.ken during the Spring '10 term at American InterContinental University Dunwoody.

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Accounting cycles - Section A: Accounting Transactions...

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