"Where Everyone Has an MBA"
Tel: (612) 246-4616
Tel: (612) 246-4616
GENERAL JOURNAL is the most basic of journals. It is a chronological list of transactions. It has a very specific format for recording each transaction. Each transaction is recorded separately and consists of: 1.) a date; 2.) any and all accounts to receive a debit entry are listed first with an amount in the appropriate column, then; 3.) any and all accounts to receive a credit entry are indented and listed next with an amount in the appropriate column; 4.) a clear description of the transaction. At least one line is then skipped to visually separate recorded transactions.
BASE AMOUNT is the fundamental numerical assumption from which something is begun or developed or calculated or explained, e.g. base pay.
LESSEE is the party to whom the possession of specified property has been conveyed for a period of time in return for rental payments.
Enter a term, then click the entry you would like to view.