Question

journal entery defination

Answer 1

The recording of financial data (taken usually from a journal voucher) pertaining to business transactions in a journal such that the debits equal credits. Journal entries provide an audit trail and a means of analyzing the effects of the transactions on an organization's financial position.

Answer 2

JOURNAL ENTRY

A journal entry is the act of keeping or making records of any transactions either Economic or non economic. Transactions are listed in an accounting journal that shows a company's debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit.