Which of the following transactions will require a journal entry? Indicate if it will be a debit or a credit and to what account the entry will be recorded. Select "NA" if not applicable. No Journal Journal Entry Entry Transaction Needed Needed Debit Credit Outstanding check Interest income NFS check Wire transfer by customer Deposit in transit Bank charges
Which of the following transactions will require a journal entry? Indicate if it will be a debit or a credit and to what account the entry will be recorded. Select "NA" if not applicable. No Journal Journal Entry Entry Transaction Needed Needed Debit Credit Outstanding check Interest income NFS check Wire transfer by customer Deposit in transit Bank charges
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal. An accounting journal shows a company's debit and credit balances.
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