A transaction is recorded using a journal entry format. A journal entry records at least two accounts. At least one account is debited and at least one account is credited. The sum of credit and debit side of a journal should always be same. T shape account is prepared by company in secondary books of accounts. To Prepare: Journal entry.

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Chapter 2, Problem 14E

Summary Introduction

Concept Introduction:

A transaction is recorded using a journal entry format. A journal entry records at least two accounts. At least one account is debited and at least one account is credited. The sum of credit and debit side of a journal should always be same. T shape account is prepared by company in secondary books of accounts.

To Prepare:

Journal entry.

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