Cash Disbursement Journal: Definition and Example
Let’s take a look at how this bookkeeping journal looks like. This journal includes a date, check number (in most cases, a check is written instead of physical cash being paid or disbursement is made in any other form of immediate payment), and the n...
Purchases Journal: Definition and Example
The format of the Purchases Journal will slightly vary from company to company based on how many details it wants to record, as well as what the company is doing and, accordingly, purchasing. As you can see from an example below, every company would ...
What is a Contra Asset Account? Simple Explanation and Example
An exception to the rule would be contra accounts. Contra accounts have opposite to normal account balance. Why? These accounts are created specifically for the reason to be able to decrease the amount reflected in a corresponding account in an indir...