Start Dating journal entries

Dating journal entries

Although many companies use specialized journals for certain transactions, all businesses use a general journal.

What is the adjusting journal entry to correct this mistake?

The first step in the accounting process is to analyze each transaction and identify what effect it has on the accounts.

After making this determination, an accountant enters the transactions in chronological order into a journal, a process called journalizing the transactions.

Step 1: Identify the original journal entries that have been made during the period.