Question

what is journal entry​

Answer 1

The journal entry can consist of several recordings, each of which is either a debit or a credit. The total of the debits must equal the total of the credits or the journal entry is considered unbalanced. Journal entries can record unique items or recurring items such as depreciation or bond amortization.

Answer 2

A journal entry is used to record a business transaction in the accounting records of a business. A journal entry can be recorded in the general ledger, but sometimes in a subsidiary ledger that is then summarized and rolled forward into the general ledger. The general ledger is then used to create financial statements for the business.