Journal-entries-exercises-with-answers May 2026

In accounting, journal entries are the first step in the accounting cycle , recording financial transactions using (left side) and credits (right side). The fundamental rule is that total debits must always equal total credits . Practice Exercises

: The business paid $500 in cash dividends to stockholders. Solutions & Explanations journal-entries-exercises-with-answers

: Collected $1,000 from the customer billed in Transaction #5. In accounting, journal entries are the first step

: The company buys office equipment for $5,000 on credit. Expense Payment : Paid $1,200 for the current month's rent. 200 for the current month's rent.