Accounting Journal Entry Samples

by Kate

Could you please provide some accounting journal entry samples to understand how business transactions should be journalized in the general journal?

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Nov 09, 2009 Samples of accounting journal entries by: Ana Orwel Below I provide some accounting journal entry samples, where you can see the circumstances of the transactions, accounts debited and credited and short descriptions of the transactions. 1. Company ABC purchased inventory on credit for $1500 D Inventory $1500 _________C Accounts payable $1500 _____________Description: acquisition of inventory on credit 2. Company ABC paid suppliers part of debt, i.e. $560 spending cash from bank for the inventory acquired as given above D Accounts payable $560 __________C Cash in bank $560 _____________Description: paying from bank to suppliers part of debt 3. Acquisition of fixed assets for cash for $3500 D Fixed Assets $3500 ___C Cash $3500 Acquisition of fixed assets for cash 4. Payment to the suppliers by cash for the inventory acquired, the amount paid is $1340 D Accounts Payable $1340 ___C Cash $1340 Payment for inventory acquired X Close Editor Nov 09, 2009 Rating Submitted by: Ana Orwel Title Comment Below I provide some accounting journal entry samples, where you can see the circumstances of the transactions, accounts debited and credited and short descriptions of the transactions. 1. Company ABC purchased inventory on credit for $1500 D Inventory $1500 _________C Accounts payable $1500 _____________Description: acquisition of inventory on credit 2. Company ABC paid suppliers part of debt, i.e. $560 spending cash from bank for the inventory acquired as given above D Accounts payable $560 __________C Cash in bank $560 _____________Description: paying from bank to suppliers part of debt 3. Acquisition of fixed assets for cash for $3500 D Fixed Assets $3500 ___C Cash $3500 Acquisition of fixed assets for cash 4. Payment to the suppliers by cash for the inventory acquired, the amount paid is $1340 D Accounts Payable $1340 ___C Cash $1340 Payment for inventory acquired Cancel Delete Delete & Ban Updating Comments page...

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