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| *Ostroff, Fair and Company>>>Personal Finance |
What is the effect of adjusting journal entries on cash? |
It's an accounting question, i think it's easy but i'm just not confident that i have the right answer. Is adjusting entries on cash the same as other accounts? It is adjusted as any other entry. Just more runs through cash than other other account. At the same time it is not an expense account. So yes it is debited and credited like any other account. Source(s): I am an Accountant. Same style yes. These are for when you go to balance your bank statement and you have to add in bank charges you didn't record like monthly service fees, wire transfers, and such. Yes, if there is an entry that adjusts cash, it is treated the same as other accounts. A debit increases it and a credit decreases it. Yes it is just a journal entry like any other. I do accounting so make them all the time I recorded the interest on one account with one today. |
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