Solved:
Answered by AI, Verified by Human Experts
Which of the following describes the standard form of a journal entry? Option 1: Standard form of a journal entry includes a title, date, and a debit and credit entry. Option 2: Standard form of a journal entry consists of a title and a single numerical entry. Option 3: In the standard form, the date is omitted from a journal entry. Option 4: A standard journal entry includes only a description of the transaction.
Which of the following describes the standard form of a journal entry? Option 1: Standard form of a journal entry includes a title, date, and a debit and credit entry. Option 2: Standard form of a journal entry consists of a title and a single numerical entry. Option 3: In the standard form, the date is omitted from a journal entry. Option 4: A standard journal entry includes only a description of the transaction.
Final answer:The standard form of ajournal entryin accounting includes a title, date, and debit andcredit entries.Explanation:The standard form of ajournal entryin accounting typically includes a title, date, and debit andcredit entries. This is described in option 1. The title identifies the accounts being affected, the date records when the transaction occurred, and the debit and credit entries show the amounts and which accounts are being debited and credited. This standard format helps ensure accuracy andconsistencyin recordingfinancial transactions.Learn more about Standard form of a journal entry here:brainly.com/question/32082900#SPJ11...
Unlock full access for 72 hours, watch your grades skyrocket.
For just $0.99 cents, get access to the powerful quizwhiz chrome extension that automatically solves your homework using AI. Subscription renews at $5.99/week.