Question

1
What are the different elements of a journal entry?​

Answer 1

Answer:

A properly documented journal entry consists of the correct date, amounts to be debited and credited, description of the transaction and a unique reference number. A journal entry is the first step in the accounting cycle.

Answer 2

Answer:

$A complete journal entry is made of 6 elements: a reference number, date, account section, debits, credits, and a journal explanation. You can record these journal entries into either a General Journal or a Special Journal. There are three main types of journal entries: compound, adjusting, and reversing.$