In the chair sector in which the company operates, it has realized the purchase of 1000 pieces of commercial goods for a price of 100 TL in cash. Make the journal and general ledger entries
In the chair sector in which the company operates, it has realized the purchase of 1000 pieces of commercial goods for a price of 100 TL in cash. Make the journal and general ledger entries
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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In the chair sector in which the company operates, it has realized the purchase of 1000 pieces of commercial goods for a price of 100 TL in cash. Make the journal and general ledger entries?
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Step 1
General ledger entry is a process of recording business transactions in the books of accounts for the first time.
General ledger entry becomes a base for further accounting processes such as preparations of ledger accounts, Trial balance, Financial statements, etc.
General ledger entry is the first step of the accounting cycle or process.
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