Basic Accounting Journal Entries

All basic accounting journal entries consist of a debit and credit to the general ledger. This is necessary in order for the balance sheet to balance, hence its name. Let's pretend we own a bakery. An example of a basic journal entry is if you receive a cash payment of $50 for a cake order. You first need to debit cash for $50, this increases the cash balance. The other side of this entry .
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