A small business must record all transactions related to customer sales and payments on the company's general ledger and accounts receivable ledger. Journal entries are used to record these ...

If your business extends credit to its customers, charging and collecting interest is well within your right. Most businesses with account receivables don't charge interest unless payment is really ...

Financial accounting is a multi-step process for companies following double-entry methods. The first and most important step begins with a journal entry: the recording of financial information related ...