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Popular Accounting Topics

Accounting for Merchandising Activities
Debits and Credits (Double Entry Accounting)
Time Value of Money & Present/Future Values
Complex Debt & Equity Instruments
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Accounting & Finance Ratios
Valuing Common Stock
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Lower of Cost or Market (LCM) & Inventory Valuation
Chart of Accounts & Bookkeeping
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Compound Journal Entry

A journal entry that affects at least three accounts. For instance, an example of a compound journal entry would be:

Dr. Accounts Receivable

Cr. Sales Revenue

and

Dr. Cost of Goods Sold

Cr. Merchandise Inventory

This entry is usually done to record sale of merchandise on credit.

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