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The Account to Be Credited Is Entered First in a Journal

question 62

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The account to be credited is entered first in a journal entry.


Definitions:

ATMs

ATMs, or Automated Teller Machines, are electronic banking outlets that allow customers to complete basic transactions without the need for a branch representative.

Equipment-delivered Services

Services that are provided with the aid of specialized equipment, often involving maintenance, delivery, and operation of the equipment itself.

Fee-delivered Services

Services for which a specific fee is charged, encompassing tasks delivered to consumers or businesses that require payment upon completion or delivery.

People-based Services

Services that are intensely labor-oriented, where the quality and value are heavily dependent on the personal skills, interactions, and professionalism of the service provider.

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