Asked by
Fahina Fonua
on Nov 14, 2024
Verified
When two accounts are required in one journal entry the entry is referred to as a
A) balanced entry.
B) simple entry.
C) posting.
D) nominal entry.
Journal Entry
A record in accounting that notes every financial transaction in the books via debits and credits.
Balanced Entry
An accounting entry where the sum of debits equals the sum of credits, maintaining the balance of the accounting equation.
- Recognize the steps involved in recording business transactions.
Verified Answer
SL
Learning Objectives
- Recognize the steps involved in recording business transactions.
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