I want to replace a specific things account, say like the Apple account, with a general things account, say like the Fruit account. I have a few questions with regards to doing this:
1. Can you give me an example journal entry for replacing an account?
2. What is the type of journal for replacing an account called?
3. Does an account replacement require a note on the financial statements?
1. Can you give me an example journal entry for replacing an account?
2. What is the type of journal for replacing an account called?
3. Does an account replacement require a note on the financial statements?