Question

what is an opening entry?​

Answer 1

Answer:

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Explanation:

A journal entry by means of which the balances of various assets, liabilities, and capital appearing in the balance sheet of the previous accounting period are brought forward in the books of a current accounting period is known as an opening entry.1journal entry by means of which the balances of various assets, liabilities, and capital appearing in the balance sheet of the previous accounting period are brought forward in the books of a current accounting period is known as an opening entry.

Answer 2

Opening entry is referred to as the first entry that is recorded or which is brought forward from a previous accounting period to the new accounting period.

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