Beruflich Dokumente
Kultur Dokumente
Debits Left side of the account Credit Right side of the account
Account
Debit Credit
Liability
Credit
Stockholders Equity
Credit
Revenue
Credit
Expenses
Debit
The Journal
Accounting Cycle
Journal Entries The company receive $50,000 in Sales revenue on June 15. Journal
Date Journal Entry
Jun 15 Cash Sales Revenue To record cash sales
Debit
50,000
Credit
50,000
Accounting Cycle
Posting to the General Ledger
The company receive $50,000 in Sales revenue on June 15. Journal
Date Journal Entry
Jun 15 Cash Sales Revenue To record cash sales Cash Dr 50,000
Debit
50,000
Credit
50,000
Accounting Cycle
Journal Entries The company pays $5,000 for Advertising Expense on June 1. Journal
Date Journal Entry Debit Credit
5,000 Jun 1 Advertising Expense 5,000 Cash To record advertising expense
Accounting Cycle
Posting to the General Ledger The company pays $5,000 for Advertising Expense on June 1. Journal
Date Journal Entry Debit Credit
Jun 1 Advertising Expense 5,000 Cash 5,000 To record advertising expense Advertising Expense Cash Dr 5,000 5,000 Cr
Adjusting Entries
The step before Financial Statements