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Journal Entry Reversal Integrated Into An

Journal Entry Reversal Integrated Into an Organization-Wide Accounting

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Title: Journal Entry Reversal Integrated Into an Organization-Wide Accounting

Essay Details:

Subject: Business

Author: Kevin B

Date: August 7, 2013

Level: University

Grade: B

Length: 3 / 660

Essay text:

(Moscove, Simkin, and Bagranoff, 2003, p.94) A Journal can be defined as “a chronological listing of the firm’s transactions, including the amounts, accounts that are affected, and in which direction the accounts are affected.” (Journal Entries, ¶ 1) Journal entries are recorded in the “journal” as a debit and a credit. Debit and credits must balance. A journal entry would be made when cash that cannot be applied to any accounting module, such as accounts receivable, accounts payable, or payroll, has to be reflected in the general ledger. At Bravo Underground, Inc. journal entries are made manually...

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