Unformatted text preview: 3. Post Journal Entry to the specific Account Ledgers a. Each account has own separate Account Ledger (T) GOLDEN RULES: 1. A = L +E 2. Debits = Credits EXAMPLE: (example 1 in notebook) Transaction: Sold $10,000 stock 1. Which accounts are included (type)? 2. Is an increase of decrease in that account? Cash (acct.) = Debit up Common Stock (equity) = Credit up...
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- Fall '08
- Accounting, Double-entry bookkeeping system, I. Accounting Cycle, specific Account Ledgers, separate Account Ledger