What is a memorandum entry? Why it is done?
Chapter2: Working With The Tax Law
Section: Chapter Questions
Problem 11DQ
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What is a memorandum entry? Why it is done?
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Step 1
A memorandum entry is different from the journal entries. The memorandum entry is not recorded by debiting one account and crediting another account. There is no debit or credit in the memorandum entry.
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