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Compound Journal Entry

An entry for ...

Question

An entry for a transaction that affects more than two accounts is known as

A

Complex entry

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B

Compound entry

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C

Single entry

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D

Duplicate entry

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Solution

The correct option is B Compound entry
A compound journal entry is an entry involving more than two accounts. In a compound journal entry, there are two or more debits, credits, or both. Rather than making separate journal entries for the same transaction.

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