Hello in this presentation that we will discuss a thought process for recording financial transactions using debits and credits. Objectives. At the end of this, we will be able to list a thought process for recording journal entries. explain the reasons for using a defined thought process and apply thought process to recording journal entries. When we think about a thought process, we’re going to start with cash as the first part of the thought process is cash affected. We’ve discussed the thought process when we have considered the double entry accounting system in the format of the accounting equation, the thought process will be much the same here we now applying that thought process to the function of debits and credits recording the journal entries with regard to debits and credits.
