Question
Is it possible to pass a single journal entry for two or more transactions?
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Answer
Sometimes, two or more transactions relating to one particular account take place on the same date. In such cases, instead of passing separate entries for all such transactions, only one entry is passed. Such a Journal entry is termed as Compound Journal Entry.
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|
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Date of the Bills
|
Period
|
|
I.
|
29th May, 2017 | 4 months |
|
II.
|
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|
III.
|
21st July, 2017 | 60 days |
|
IV.
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V.
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|
VI.
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