Interviewer And Interviewee Guide

Basic Accounting Interview Question:

Explain Compound Journal Entry?

Submitted by: Administrator
In day to day business, various similar transactions take place on the same day and every account is either debited or credited. Thus instead of passing different entries, a compound entry can be passed, which involves more than one debit or more than one credit or both. This makes the journal less bulky and avoids duplication.
Submitted by: Administrator

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