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College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570

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BuyFindarrow_forward

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570
Textbook Problem

For a journal entry to be complete, it must contain

  1. a. the date.
  2. b. a debit entry.
  3. c. a credit entry.
  4. d. an explanation.
  5. e. all of the above.

To determine

Find the correct option, the option that indicates the requirements of a journal entry.

Explanation

Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

The following are the four parts of a journal entry:

  1. 1. Date of the transaction
  2. 2. Debited account and amount
  3. 3. Credited account and amount
  4. 4. Brief narration or description of the entry

The journal entry is represented in the journal as shown below:

DateAccount Titles and ExplanationPost Ref...

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