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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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This note was uploaded on 01/16/2012 for the course ACCT 2001 taught by Professor Lowe during the Fall '08 term at LSU.
- Fall '08