The journal entry for adjustment of overallocated manufacturing overhead includes a credit to cost of products sold.
In order to document a business transaction in the accounting records of the company, a journal entry is employed. A journal entry is often made in the general ledger, but it can also be made in a subsidiary ledger and subsequently rolled forward into the general ledger after being summarized. After then, the general ledger is utilized to produce the company's financial statements. Every company transaction should be recorded at least twice, or in double entry accounting, according to the logic behind a journal entry.
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