Journal entries also use the five main accounts and sub-accounts to stay organized. When recording journal entries, make sure your debits and credits balance. Following is an example of a general ledger report from FreshBooks. It shows all of the…

Liabilities are a vital aspect of a company because they are used to finance operations and pay for large expansions. For example, in most cases, if a wine supplier sells a case of wine to a restaurant, it does not…

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