Accountancy, asked by divyajjwala, 1 year ago

bought postage stamps journal entry​

Answers

Answered by genevievegordon
16

Answer:

Debit: Miscellaneous Expense

Credit: Cash

Explanation:

Answered by JackelineCasarez
8

Postage stamp A/c   ...dr.

            To Cash A/C

Explanation:

  • A journal entry is an accounting transaction that records financial information in a company's accounting account. This detailed information helps companies track the financial information recorded in various accounting journals of the company.
  • Types of accounting journals may include general, sales, purchases, cash receipts, and cash disbursements.
  • Journal entry information usually includes an account number, a brief description of the transaction, a dollar amount, and a specific reference number.
  • Thus, the correct entry for postage stamps would be debiting postage stamps and crediting the cash account.

Learn more: Journal Entry

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