Master the art of Journal Entries with this quick reference sheet from my #50DaysAccountingChallenge. This note beautifully summarizes the treatment of important transactions like drawings in cash or goods, loss of stock by theft or fire, goods given as sample, goods donated, and bad debts with recovery. It clearly differentiates how these items appear in Trading/Profit & Loss Account and Balance Sheet, while showing the correct journal entries with narration. Understand which accounts are Nomin

Trading and profit and loss account