Question

what are the comman journal entries in accountancy​

Answer 1

For example, sales would be recorded in a sales journal and payroll would be recorded in a payroll journal. A summary of those transactions was periodically posted to the correct general ledger account as part of the accounting cycle. Journal entry accounting was the only way to enter data into financial records

Answer 2

Explanation:

Common journal examples:-

Sales: income you record from sales.

Accounts receivable: money you're owed.

Cash receipts: money you've received.

Sales returns: sales you've refunded.

Purchases: payments you've made.

Accounts payable: money you owe.

Equity: retained earnings and owners' investment.