Question

Explain Compound Journal Entry.?

Answer 1

Answer:

A compound journal entry is an accounting entry which effects more than two account heads. A simple journal entry has one debit and one credit whereas a compound journal entries includes one or more debits and/or credits than a simple journal entry.

A compound journal entry is an accounting entry in which there is more than one debit, more than one credit, or more than one of both debits and credits.