bought postage stamps journal entry
Answers
Answered by
16
Answer:
Debit: Miscellaneous Expense
Credit: Cash
Explanation:
Answered by
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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