Kategori: Bookkeeping

A brokerage account is an investment account that allows you to buy investments like stocks, bonds, mutual funds, and exchange-traded funds (ETFs). Remember, though, that an account minimum differs from an investment minimum. An account minimum is the amount you need to deposit into the brokerage account just to open it. Where should you open […]

The cash receipts journal is used to record all receipts of cash (recorded by a debit to Cash). In the preceding example, if Baker Co. paid the $1,450 owed, there would be a debit to Cash for $1,450 and a credit to Accounts Receivable. A notation would be made in the reference column to indicate […]