- Paying a supplier for services rendered or goods delivered.
- Paying a seller with cash and a note in order to obtain ownership of a property formerly owned by the seller.
- Paying an employee for hours worked.
- Receiving payment from a customer in exchange for goods or services delivered.
A high-volume transaction, such as a billing to a customer, may be recorded in a specialized journal, which is then summarized and posted to the general ledger. Alternatively, lower-volume transactions are posted directly to the general ledger.