If a journal entry includes a debit or credit to the Cash account, it is most likely which of thefollowing?A. a closing entryB. an adjusting entryC. an ordinary transaction entryD. outside of the accounting cycle

If a journal entry includes a debit or credit to the Cash account, it is most likely which of thefollowing?A. a closing entryB. an adjusting entryC. an ordinary transaction entryD. outside of the accounting cycle

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 14Q: A journal entry that requires a debit to Accounts Receivable and a credit to Sales goes in which...

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

If a journal entry includes a debit or credit to the Cash account, it is most likely which of the
following?
A. a closing entry
B. an adjusting entry
C. an ordinary transaction entry
D. outside of the accounting cycle

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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