Thursday, December 8, 2011

What is the journal entry for opening balance accounts for the month?

Suppose the trial balance of June shows cash - 10,000, then what would be the the journal entry for the opening balance of July. Same goes to Account Receivable?





Please help|||I don't think you state the question right. The opening balance is already there so you do not need to entere it again.No entry is needed to book the opning balance every month.

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