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A Cash receipts journal is a specialized accounting journal and it is referred to as the main entry book used in an accounting system to keep track of the sales of items when cash is received, by crediting sales and debiting cash and transactions related to receipts.
Furniture, fixtures, and equipment (or FF&E) (sometimes Furniture, furnishings, and equipment [1] [2]) is an accounting term used in valuing, selling, or liquidating a company or a building. FF&E are movable furniture , fixtures , or other equipment that have no permanent connection to the structure of a building or utilities. [ 3 ]
The total of the debits must equal the total of the credits, or the journal entry is considered unbalanced. Journal entries can record unique items or recurring items such as depreciation or bond amortization. In accounting software, journal entries are usually entered using a separate module from accounts payable, which typically has its own ...
A purchase returns journal (also known as returns outwards journal/purchase debits daybook) is a prime entry book or a daybook which is used to record purchase returns.In other words, it is the journal which is used to record the goods which are returned to the suppliers.
The name and page of the journal from which the ledger entry came is recorded in the folio number column. Each journal has a folio number column. The number of the ledger account to which the journal entry was posted is recorded in the folio number column of the journal. Cash money, EFTPOS, cheques, credit cards. Receipts and payments.
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A company can maintain one journal for all transactions, or keep several journals based on similar activity (e.g., sales, cash receipts, revenue, etc.), making transactions easier to summarize and reference later. For every debit journal entry recorded, there must be an equivalent credit journal entry to maintain a balanced accounting equation ...
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