2 - A|LE-R|E & Journal Entries

Accounting 101 with Jimmy Stewart

In this episode, we discuss how each type of account in ALE-RE is affected by journal entries, and we learn the debit/credit language of accounting using A|LE-R|E. The lines separate the types of accounts with normal debit balances from those with normal credit balances. This is the most important episode to listen to if you are just learning accounting. Example Journal Entry: Dr. Cr. Utilities Expense 150 Accounts Payable 150