Question

The standard form of a journal entry has the:____________.
1. credit account entered first at the extreme left margin.
2. debit account entered first and indented.
3. credit account entered first and indented.4. debit account entered first at the extreme left margin.

Answer 1

Answer:

4. debit account entered first at the extreme left margin.

Explanation:

The journalizing refers to the recording of the day to day transactions.

Let us take an example

Salaries is paid in cash for $5,000 on Jan 1

The format is shown below:

Date    Particulars                              Dr. Amount     Cr. Amount

Jan 1    Salary expense A/c Dr          $5,000

                   To Cash A/c                                            $5,000

(Being the salaries is paid in cash is recorded