What is a memorandum entry? Why it is done?

Individual Income Taxes
43rd Edition
ISBN:9780357109731
Author:Hoffman
Publisher:Hoffman
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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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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