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Journal Entries for Credit Sales Credit sales refer to the purchases that the customers make with delayed payment. As the

An Overview of Deferred Expenses

An Overview of Deferred Expenses Deferred expenses are the costs that a company has incurred, yet it has not consumed

Which Ledger Accounts Will Normally Have Credit Balances? Do you know that some accounts will usually have debit balances, while

Which Ledger Accounts Will Normally Have Debit Balances? In general ledger accounts, there are two types of balances. To find

Direct Expenses and Indirect Expenses It is common for business owners to incur expenses almost every day. To make sure

An Overview of Gross Margin

An Overview of Gross Margin The gross margin shows the amount that a business has earned from selling its products

What is an Accounting Cycle?

What is an Accounting Cycle? You may perceive the accounting cycle as a series of events which play an essential

How to Differentiate Invoice and Receipt? For most people who are not familiar with documents used in business transactions, invoice

Errors That You May Commit When Recording Business Transactions As a business owner, do you know how you should record

Vital Elements in Bookkeeping

Vital Elements in Bookkeeping Bookkeeping is the process of recording daily business transactions that have taken place in a company.

Journal Entries for Accounts Payable Account Have you ever wondered how the bookkeepers from a bookkeeping firm in Singapore record

Which is the Most Important Financial Statement? The cash flow statement, income statement and balance sheet are essential financial statements.

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