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For example, cash receipt journals are used by merchant businesses to record cash receipt transactions. Hence, the inventory account will only show up in the inventory sale journal entry if the company uses the perpetual system. On the other hand, there will be only accounts receivable or cash account with sales revenue if the company […]

Content Unadjusted trial balance How a Trial Balance Works Using the Adjusted Trial Balance Gather account information from the general ledger. Closing Entries – Process, Types and Examples Post-Closing Trial Balance Unadjusted Trial Balance As evidenced by this example, the sum of the debit amounts is equal to the sum of the credit amounts, thus […]