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Journal Entries: Collecting cash and paying obligations - ACCT 2005

How do we create journal entries for collecting payments due a company or paying obligations? What is the general process for creating a journal entry?

From  Alena Rodick 160 plays 0  

M2 EXERCISE 3-7 - ACCT 2005

EFFECT ON INCOME AND BALANCE SHEET ACCOUNTS

From  Barbara Warschawski 728 plays 0