In a dual entry accounting system, entries are made in debit and credit columns. Increases in assets -- the things you own -- and expenses are entered in the debit column, while liabilities -- or ...

The money a corporation borrows by issuing a notes payable must be repaid to the lender with interest. All transactions related to the note and the exchange of monies between the borrower and lender ...

Closing the books on an accounting period is a lengthy and complex process. No matter how complex, it needs to start somewhere. For every company, big or small, it starts with a trial balance. This is ...

Understand adjusting entries for accounting purposes, how they are made and what they impact. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...