The Account to Be Credited Is Entered First in a Journal

question 62

True/False

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

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Definitions:

Corporation Issuing

The process by which a corporation releases or sells securities, like stocks or bonds, to raise capital.

Bondholders

Individuals or entities that hold debt securities issued by corporations or governments, entitling them to receive interest and the repayment of principal.

Time Value

The concept that money available today is worth more than the same amount in the future due to its potential earning capacity.

Money

A medium of exchange that enables individuals and institutions to buy goods and services.