Financial Accounting

Learn the toughest concepts covered in your Financial Accounting class with step-by-step video tutorials and practice problems.

Transaction Analysis

Journal Entries: Debits and Credits

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Now we can learn how to record the effects of events in the accounting system. Debits and Credits, Debits and Credits, Debits and Credits... you're going to be hearing it a lot!

Now we can learn how to record the effects of events in the accounting system. Debits and Credits, Debits and Credits, Debits and Credits... you're going to be hearing it a lot!

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concept

Journal Entries: Debits and Credits

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Journal Entry

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Problem

The Goods Company purchased goods from its suppliers. The goods cost $20,000. Record the transaction.