{"id":59,"date":"2015-03-18T23:00:41","date_gmt":"2015-03-18T23:00:41","guid":{"rendered":"https:\/\/courses.candelalearning.com\/finacct2x10xmaster\/?post_type=chapter&#038;p=59"},"modified":"2017-08-10T14:25:40","modified_gmt":"2017-08-10T14:25:40","slug":"the-double-entry-accounting-method","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/clinton-finaccounting\/chapter\/the-double-entry-accounting-method\/","title":{"raw":"Journal Entries","rendered":"Journal Entries"},"content":{"raw":"<b>Double-entry bookkeeping<\/b>, in accounting, is a system of bookkeeping so named because every entry to an account requires a corresponding and opposite entry to a different account. This lesson will cover how\u00a0to create journal entries from business transactions.\u00a0 Journal entries are the way we capture the activity of our business.\r\n\r\nhttps:\/\/youtu.be\/ji2b6kNTbUM\r\n\r\nWhen a business transaction requires a journal entry, we must follow these rules:\r\n<ul>\r\n \t<li>The entry must have at least 2 accounts with 1 DEBIT amount and at least 1 CREDIT amount.<\/li>\r\n \t<li>The DEBITS are listed first and then the CREDITS.<\/li>\r\n \t<li>The DEBIT amounts will always equal the CREDIT amounts.<\/li>\r\n<\/ul>\r\nFor another example, let's look at the transaction analysis we did in the previous chapter for Metro Courier\u00a0(click <a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/664\/2016\/02\/22203512\/Transaction-analysis.pdf\">Transaction analysis<\/a>):\r\n\r\n1.\u00a0 The owner invested $30,000 cash in the corporation.\u00a0 We analyzed this transaction by increasing both cash (an asset) and common stock (an equity) for $30,000. We learned you increase an asset with a DEBIT and increase an equity with a CREDIT.\u00a0 The journal entry would look like this:\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td style=\"text-align: center\"><\/td>\r\n<td>\u00a0 Debit<\/td>\r\n<td>\u00a0 Credit<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Cash<\/td>\r\n<td>\u00a0 30,000<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>\u00a0 \u00a0 Common Stock<\/td>\r\n<td><\/td>\r\n<td>\u00a030,000<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n2.\u00a0 Purchased $5,500 of equipment with cash.\u00a0 We analyzed this transaction as increasing the asset Equipment and decreasing the asset Cash.\u00a0 To increase an asset, we debit and to decrease an asset, use credit.\u00a0 This journal entry would be:\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td style=\"text-align: center\"><\/td>\r\n<td>\u00a0 Debit<\/td>\r\n<td>\u00a0 Credit<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Equipment<\/td>\r\n<td>\u00a0 5,500<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>\u00a0 \u00a0 Cash<\/td>\r\n<td><\/td>\r\n<td>\u00a0 5,500<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n3.\u00a0 Purchased a new truck for $8,500 cash.\u00a0 \u00a0We analyzed this transaction as increasing the asset Truck and decreasing the asset Cash.\u00a0 To increase an asset, we debit and to decrease an asset, use credit.\u00a0 This journal entry would be:\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td style=\"text-align: center\"><\/td>\r\n<td>Debit<\/td>\r\n<td>Credit<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Truck<\/td>\r\n<td>8,500<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>\u00a0 \u00a0 Cash<\/td>\r\n<td><\/td>\r\n<td>8,500<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n4.\u00a0 Purchased $500 in supplies on account.\u00a0 We analyzed this transaction as increasing the asset Supplies and the liability Accounts Payable.\u00a0 To increase an asset, we debit and to increase a liability, use credit.\u00a0 This journal entry would be:\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td style=\"text-align: center\"><\/td>\r\n<td>Debit<\/td>\r\n<td>Credit<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Supplies<\/td>\r\n<td>500<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>\u00a0 \u00a0 Accounts Payable<\/td>\r\n<td><\/td>\r\n<td>500<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n5.\u00a0 Paid $300 for supplies previously purchased.\u00a0 Since we previously purchased the supplies and are not buying any new ones, we analyzed this to decrease the liability accounts payable and the asset cash.\u00a0 To decrease a liability, use debit and to decrease and asset, use debit.\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td style=\"text-align: center\"><\/td>\r\n<td>Debit<\/td>\r\n<td>Credit<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Accounts Payable<\/td>\r\n<td>300<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>\u00a0 \u00a0 Cash<\/td>\r\n<td><\/td>\r\n<td>300<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n6.\u00a0 Paid February and March Rent in advance for $1,800.\u00a0 When we pay for an expense in advance, it is an asset.\u00a0 We want to increase the asset Prepaid Rent and decrease Cash.\u00a0 To increase an asset, we debit and to decrease an asset, use credit.\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td style=\"text-align: center\"><\/td>\r\n<td>\u00a0Debit<\/td>\r\n<td>Credit<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Prepaid Rent<\/td>\r\n<td>\u00a01,800<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>\u00a0\u00a0\u00a0 Cash<\/td>\r\n<td><\/td>\r\n<td>1,800<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n7.\u00a0 Performed work for customers and received $50,000 cash.\u00a0 We analyzed this transaction to increase the asset cash and increase the revenue Service Revenue.\u00a0 To increase an asset, use debit and to increase a revenue, use credit.\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td style=\"text-align: center\"><\/td>\r\n<td>Debit<\/td>\r\n<td>Credit<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Cash<\/td>\r\n<td>50,000<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>\u00a0 \u00a0 Services Revenue<\/td>\r\n<td><\/td>\r\n<td>50,000<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n8.\u00a0 Performed work for customers and billed them $10,000.\u00a0 We analyzed this transaction to increase the asset accounts receivable (since we have not gotten paid but will receive it later) and increase revenue.\u00a0 To increase an asset, use debit and to increase a revenue, use credit.\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td style=\"text-align: center\"><\/td>\r\n<td>Debit<\/td>\r\n<td>Credit<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Accounts Receivable<\/td>\r\n<td>10,000<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>\u00a0 \u00a0 Services Revenue<\/td>\r\n<td><\/td>\r\n<td>10,000<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n9.\u00a0 Received $5,000 from customers from work previously billed.\u00a0 We analyzed this transaction to increase cash since we are receiving cash and we want to decrease accounts receivable since we are receiving money from customers who we billed previously and not new work we are doing.\u00a0 To increase an asset, we debit and to decrease an asset, use credit.\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td style=\"text-align: center\"><\/td>\r\n<td>Debit<\/td>\r\n<td>Credit<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Cash<\/td>\r\n<td>5,000<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>\u00a0 \u00a0 Accounts Receivable<\/td>\r\n<td><\/td>\r\n<td>5,000<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n10.\u00a0 Paid office salaries $900.\u00a0 We analyzed this transaction to increase salaries expense and decrease cash since we paid cash.\u00a0 To increase an expense, we debit and to decrease an asset, use credit.\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td style=\"text-align: center\"><\/td>\r\n<td>Debit<\/td>\r\n<td>Credit<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Salaries Expense<\/td>\r\n<td>900<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>\u00a0 \u00a0 Cash<\/td>\r\n<td><\/td>\r\n<td>900<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n11. Paid utility bill $1,200.\u00a0 We analyzed this transaction to increase utilities\u00a0expense and decrease cash since we paid cash.\u00a0 To increase an expense, we debit and to decrease an asset, use credit.\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td style=\"text-align: center\"><\/td>\r\n<td>Debit<\/td>\r\n<td>Credit<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Utilities Expense<\/td>\r\n<td>1,200<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>\u00a0 \u00a0 Cash<\/td>\r\n<td><\/td>\r\n<td>1,200<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\nAll the journal entries illustrated so far have involved one debit and one credit; these journal entries are called\u00a0<strong>simple journal entries<\/strong>. Many business transactions, however, affect more than two accounts. The journal entry for these transactions involves more than one debit and\/or credit. Such journal entries are called\u00a0<strong>compound journal entries.<\/strong>\r\n\r\nIf you would like to watch another video about journal entries, click <a href=\"https:\/\/youtu.be\/KILj-JWglDM\">Journal Entries<\/a>.\r\n\r\nHow do we prepare financial statements from these journal entries?\u00a0 The journal entries just allowed us to capture the activity of the business.\u00a0 In the next section we will organize the information to make it easier to prepare financial statements.","rendered":"<p><b>Double-entry bookkeeping<\/b>, in accounting, is a system of bookkeeping so named because every entry to an account requires a corresponding and opposite entry to a different account. This lesson will cover how\u00a0to create journal entries from business transactions.\u00a0 Journal entries are the way we capture the activity of our business.<\/p>\n<p><iframe loading=\"lazy\" id=\"oembed-1\" title=\"Journal Entries and The Accounting Cycle (Financial Accounting Tutorial #16)\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/ji2b6kNTbUM?feature=oembed&#38;rel=0\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>When a business transaction requires a journal entry, we must follow these rules:<\/p>\n<ul>\n<li>The entry must have at least 2 accounts with 1 DEBIT amount and at least 1 CREDIT amount.<\/li>\n<li>The DEBITS are listed first and then the CREDITS.<\/li>\n<li>The DEBIT amounts will always equal the CREDIT amounts.<\/li>\n<\/ul>\n<p>For another example, let&#8217;s look at the transaction analysis we did in the previous chapter for Metro Courier\u00a0(click <a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/664\/2016\/02\/22203512\/Transaction-analysis.pdf\">Transaction analysis<\/a>):<\/p>\n<p>1.\u00a0 The owner invested $30,000 cash in the corporation.\u00a0 We analyzed this transaction by increasing both cash (an asset) and common stock (an equity) for $30,000. We learned you increase an asset with a DEBIT and increase an equity with a CREDIT.\u00a0 The journal entry would look like this:<\/p>\n<table>\n<tbody>\n<tr>\n<td style=\"text-align: center\"><\/td>\n<td>\u00a0 Debit<\/td>\n<td>\u00a0 Credit<\/td>\n<\/tr>\n<tr>\n<td>Cash<\/td>\n<td>\u00a0 30,000<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>\u00a0 \u00a0 Common Stock<\/td>\n<td><\/td>\n<td>\u00a030,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>2.\u00a0 Purchased $5,500 of equipment with cash.\u00a0 We analyzed this transaction as increasing the asset Equipment and decreasing the asset Cash.\u00a0 To increase an asset, we debit and to decrease an asset, use credit.\u00a0 This journal entry would be:<\/p>\n<table>\n<tbody>\n<tr>\n<td style=\"text-align: center\"><\/td>\n<td>\u00a0 Debit<\/td>\n<td>\u00a0 Credit<\/td>\n<\/tr>\n<tr>\n<td>Equipment<\/td>\n<td>\u00a0 5,500<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>\u00a0 \u00a0 Cash<\/td>\n<td><\/td>\n<td>\u00a0 5,500<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>3.\u00a0 Purchased a new truck for $8,500 cash.\u00a0 \u00a0We analyzed this transaction as increasing the asset Truck and decreasing the asset Cash.\u00a0 To increase an asset, we debit and to decrease an asset, use credit.\u00a0 This journal entry would be:<\/p>\n<table>\n<tbody>\n<tr>\n<td style=\"text-align: center\"><\/td>\n<td>Debit<\/td>\n<td>Credit<\/td>\n<\/tr>\n<tr>\n<td>Truck<\/td>\n<td>8,500<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>\u00a0 \u00a0 Cash<\/td>\n<td><\/td>\n<td>8,500<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>4.\u00a0 Purchased $500 in supplies on account.\u00a0 We analyzed this transaction as increasing the asset Supplies and the liability Accounts Payable.\u00a0 To increase an asset, we debit and to increase a liability, use credit.\u00a0 This journal entry would be:<\/p>\n<table>\n<tbody>\n<tr>\n<td style=\"text-align: center\"><\/td>\n<td>Debit<\/td>\n<td>Credit<\/td>\n<\/tr>\n<tr>\n<td>Supplies<\/td>\n<td>500<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>\u00a0 \u00a0 Accounts Payable<\/td>\n<td><\/td>\n<td>500<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>5.\u00a0 Paid $300 for supplies previously purchased.\u00a0 Since we previously purchased the supplies and are not buying any new ones, we analyzed this to decrease the liability accounts payable and the asset cash.\u00a0 To decrease a liability, use debit and to decrease and asset, use debit.<\/p>\n<table>\n<tbody>\n<tr>\n<td style=\"text-align: center\"><\/td>\n<td>Debit<\/td>\n<td>Credit<\/td>\n<\/tr>\n<tr>\n<td>Accounts Payable<\/td>\n<td>300<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>\u00a0 \u00a0 Cash<\/td>\n<td><\/td>\n<td>300<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>6.\u00a0 Paid February and March Rent in advance for $1,800.\u00a0 When we pay for an expense in advance, it is an asset.\u00a0 We want to increase the asset Prepaid Rent and decrease Cash.\u00a0 To increase an asset, we debit and to decrease an asset, use credit.<\/p>\n<table>\n<tbody>\n<tr>\n<td style=\"text-align: center\"><\/td>\n<td>\u00a0Debit<\/td>\n<td>Credit<\/td>\n<\/tr>\n<tr>\n<td>Prepaid Rent<\/td>\n<td>\u00a01,800<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>\u00a0\u00a0\u00a0 Cash<\/td>\n<td><\/td>\n<td>1,800<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>7.\u00a0 Performed work for customers and received $50,000 cash.\u00a0 We analyzed this transaction to increase the asset cash and increase the revenue Service Revenue.\u00a0 To increase an asset, use debit and to increase a revenue, use credit.<\/p>\n<table>\n<tbody>\n<tr>\n<td style=\"text-align: center\"><\/td>\n<td>Debit<\/td>\n<td>Credit<\/td>\n<\/tr>\n<tr>\n<td>Cash<\/td>\n<td>50,000<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>\u00a0 \u00a0 Services Revenue<\/td>\n<td><\/td>\n<td>50,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>8.\u00a0 Performed work for customers and billed them $10,000.\u00a0 We analyzed this transaction to increase the asset accounts receivable (since we have not gotten paid but will receive it later) and increase revenue.\u00a0 To increase an asset, use debit and to increase a revenue, use credit.<\/p>\n<table>\n<tbody>\n<tr>\n<td style=\"text-align: center\"><\/td>\n<td>Debit<\/td>\n<td>Credit<\/td>\n<\/tr>\n<tr>\n<td>Accounts Receivable<\/td>\n<td>10,000<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>\u00a0 \u00a0 Services Revenue<\/td>\n<td><\/td>\n<td>10,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>9.\u00a0 Received $5,000 from customers from work previously billed.\u00a0 We analyzed this transaction to increase cash since we are receiving cash and we want to decrease accounts receivable since we are receiving money from customers who we billed previously and not new work we are doing.\u00a0 To increase an asset, we debit and to decrease an asset, use credit.<\/p>\n<table>\n<tbody>\n<tr>\n<td style=\"text-align: center\"><\/td>\n<td>Debit<\/td>\n<td>Credit<\/td>\n<\/tr>\n<tr>\n<td>Cash<\/td>\n<td>5,000<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>\u00a0 \u00a0 Accounts Receivable<\/td>\n<td><\/td>\n<td>5,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>10.\u00a0 Paid office salaries $900.\u00a0 We analyzed this transaction to increase salaries expense and decrease cash since we paid cash.\u00a0 To increase an expense, we debit and to decrease an asset, use credit.<\/p>\n<table>\n<tbody>\n<tr>\n<td style=\"text-align: center\"><\/td>\n<td>Debit<\/td>\n<td>Credit<\/td>\n<\/tr>\n<tr>\n<td>Salaries Expense<\/td>\n<td>900<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>\u00a0 \u00a0 Cash<\/td>\n<td><\/td>\n<td>900<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>11. Paid utility bill $1,200.\u00a0 We analyzed this transaction to increase utilities\u00a0expense and decrease cash since we paid cash.\u00a0 To increase an expense, we debit and to decrease an asset, use credit.<\/p>\n<table>\n<tbody>\n<tr>\n<td style=\"text-align: center\"><\/td>\n<td>Debit<\/td>\n<td>Credit<\/td>\n<\/tr>\n<tr>\n<td>Utilities Expense<\/td>\n<td>1,200<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>\u00a0 \u00a0 Cash<\/td>\n<td><\/td>\n<td>1,200<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>All the journal entries illustrated so far have involved one debit and one credit; these journal entries are called\u00a0<strong>simple journal entries<\/strong>. Many business transactions, however, affect more than two accounts. The journal entry for these transactions involves more than one debit and\/or credit. Such journal entries are called\u00a0<strong>compound journal entries.<\/strong><\/p>\n<p>If you would like to watch another video about journal entries, click <a href=\"https:\/\/youtu.be\/KILj-JWglDM\">Journal Entries<\/a>.<\/p>\n<p>How do we prepare financial statements from these journal entries?\u00a0 The journal entries just allowed us to capture the activity of the business.\u00a0 In the next section we will organize the information to make it easier to prepare financial statements.<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-59\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>Accounting Principles: A Business Perspective. <strong>Authored by<\/strong>: James Don Edwards, University of Georgia &amp; Roger H. Hermanson, Georgia State University. <strong>Provided by<\/strong>: Endeavour International Corporation. <strong>Project<\/strong>: The Global Text Project   . <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">All rights reserved content<\/div><ul class=\"citation-list\"><li>Journal Entries. <strong>Authored by<\/strong>: Debra Porter. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/youtu.be\/KILj-JWglDM\">https:\/\/youtu.be\/KILj-JWglDM<\/a>. <strong>License<\/strong>: <em>All Rights Reserved<\/em>. <strong>License Terms<\/strong>: Standard YouTube License<\/li><li>Journal Entries and The Accounting Cycle. <strong>Authored by<\/strong>: Note Pirate. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/youtu.be\/ji2b6kNTbUM\">https:\/\/youtu.be\/ji2b6kNTbUM<\/a>. <strong>License<\/strong>: <em>All Rights Reserved<\/em>. <strong>License Terms<\/strong>: Standard YouTube License<\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":276,"menu_order":10,"template":"","meta":{"_candela_citation":"[{\"type\":\"copyrighted_video\",\"description\":\"Journal Entries\",\"author\":\"Debra Porter\",\"organization\":\"\",\"url\":\"https:\/\/youtu.be\/KILj-JWglDM\",\"project\":\"\",\"license\":\"arr\",\"license_terms\":\"Standard YouTube License\"},{\"type\":\"copyrighted_video\",\"description\":\"Journal Entries and The Accounting Cycle\",\"author\":\"Note Pirate\",\"organization\":\"\",\"url\":\"https:\/\/youtu.be\/ji2b6kNTbUM\",\"project\":\"\",\"license\":\"arr\",\"license_terms\":\"Standard YouTube License\"},{\"type\":\"cc\",\"description\":\"Accounting Principles: A Business Perspective\",\"author\":\"James Don Edwards, University of Georgia & Roger H. 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