Tag Archives for " Journal Entries "

Introduction to Periodic and Perpetual Inventory

What is Inventory? Inventory is an asset account composed of items a company is planning to sell to customers. In financial accounting, we deal primarily with merchandising companies. A merchandiser is

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Introduction to Bonds

A bond is a liability companies use when a large amount of cash is needed. Rather than go to a bank or other lender, a company will issue bonds and sell them to the public. By selling bonds on the open

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Journal Entry Basics

Journal entries are probably the most important part of any financial accounting class. They are the language of accounting. This is a journal entry. It describes a transaction. The entry above tells

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