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IN THE COURT OF COMMON PLEAS, FRANKLIN COUNTY DIVISION OF DOMESTIC RELATIONS AND JUVENILE BRANCH Case No. JOURNAL ENTRY This matter came before the Court on December 1, 2022, as to the immediate retirement

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How to fill out journal entry

01

Determine the date of the transaction and record it at the top of the journal entry.

02

Identify the accounts involved in the transaction and decide whether it is a debit or credit entry.

03

Write the account title and amount on the two columns of the journal entry; debit on the left and credit on the right.

04

Calculate the total debits and total credits to ensure they are equal, which maintains the accounting equation.

05

Include a brief description of the transaction to provide context for the entry.

06

Review the journal entry for accuracy before posting it to the general ledger.

Who needs journal entry?

01

Businesses of all sizes need journal entries to accurately record their financial transactions.

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Accountants and bookkeepers use journal entries to maintain a detailed record of business activities.

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Regulatory bodies and auditors may require journal entries as part of financial reporting compliance.

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What is journal entry?

A journal entry is a record of a financial transaction in a business's accounting system.

Who is required to file journal entry?

Any business or organization that engages in financial transactions must file journal entries to maintain accurate records.

How to fill out journal entry?

To fill out a journal entry, one must accurately record the date of the transaction, accounts involved, amounts, and a brief description of the transaction.

What is the purpose of journal entry?

The purpose of a journal entry is to provide a chronological record of financial transactions, helping businesses track their income, expenses, and overall financial health.

What information must be reported on journal entry?

A journal entry must include the date of the transaction, accounts affected, amounts debited and credited, and a brief description of the transaction.

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