What is Compound Journal Entry? Give an example. – InterviewSolution

1.	What is Compound Journal Entry? Give an example.
Answer» A simple journal entry has adebitand credit of equal value. For example, a $12,000 business vehicle purchased withcashis recorded as a $12,000debitto equipment and a $12,000 credit tocash. A compound journal entry has multiple debits, multiple credits or both debits and credits.

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