A compound journal entry involves at least two debit accounts and two credit accounts.

Name: A compound journal entry involves at least two debit accounts and two credit accounts.
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Question

Quizplus · Accepted Answer

A compound journal entry involves multiple accounts but does not necessarily require at least two debit accounts and two credit accounts. It could be a combination of multiple debits to one credit, multiple credits to one debit, or another combination thereof.

A Compound Journal Entry Involves at Least Two Debit Accounts