ACC 1104 Lecture 3: Instructions for Recording Journal Entries

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12 Oct 2016
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Instructions for Recording Journal Entries
Accounting 1010
Please use the instructions that follow to record journal entries in chapter 3 and all subsequent
chapters.
Enter date in date column. You only need to list the month once. This makes the
general journal easier to read because you can just eye a page and determine the
month that the entries relate to. Of course in the "real world" if the month changed
in the middle of the page you would enter the new month.
Enter account(s) debited first in the Account Title column. These should line up
to the left hand side of the column. All accounts that are debited should be listed
before any accounts that are credited. It does not matter what order the debit
accounts are listed in if there is more than one. In addition, if there is more than
one account debited the account titles should line up together to the left hand side
of the column. They should not be indented as this could cause confusion with
the indentation of credited account titles.
Enter the debit amount in the debit column. These amounts don't need dollar
signs and decimal places. Since the amounts are in the general journal it is
implied that they are dollar amounts so the dollar signs are redundant.
Enter account(s) credited next in the Account Title column. Don't forget to
indent the account title (I usually tell students that a quarter of an inch is enough
to tell that the account title is indented and indenting to the middle of the column
is too much). In addition, if there is more than one account credited it does not
matter what order the accounts are listed in and all of the account titles should
line-up.
Enter the credit amount in the credit column. Again, these amounts don't need
dollar signs and decimal places.
It is not necessary to include a description of each transaction. Although this is
illustrated in the example in the textbook, each student will include different
wording in their description which can cause confusion. Although descriptions
are often included in the real world they are not necessary for any transaction in
this chapter or subsequent chapters.
Skip a line between transactions. This makes the journal easier to read.
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