The conversation between human and AI assistant.
How do I learn journal entries in accounts easily?
Yes, please. Can you give me an example of a journal entry for a sale of services?
Sure. Let's say your company provides consulting services to a customer for $1,000. The journal entry would be: Debit Accounts Receivable $1,000 and Credit Consulting Revenue $1,000. This records the transaction and increases both the company's assets and revenue. Would you like me to provide more examples?