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How to Record a Sales Journal Entry with Examples

Since the purchases journal is only for purchases of inventory on account, it means the company owes money. To keep track of whom the company owes money to and when payment is due, the entries are posted daily to the accounts payable subsidiary ledger. Accounts Payable in the general ledger becomes a control account just […]

The Accounting Cycle: The Post-Closing Trial Balance Saylor Academy

If the two balances are not equal, there is a mistake in at least one of the columns. The purpose of closing entries is to close all temporary accounts and adjust the balances of real accounts such as owner’s capital. Like all of your trial balances, the post-closing balance of debits and credits must match. […]

The 10 Best Bookkeepers in Columbus, OH with Free Estimates

Kev’s Best is a reputable online platform that specializes in providing comprehensive and reliable reviews, recommendations, and guides on a wide range of products and services. If you don’t want to hire a bookkeeper in Ohio, but rather use bookkeeping software, here’s an overview of the most popular options currently on the market. Ohio University […]