write journal entries for buisness transaction of aradhna
Answers
Format of the Journal Entry
•The accounts into which the debits and credits are to be recorded.
•The date of the entry.
•The accounting period in which the journal entry should be recorded.
•The name of the person recording the entry.
•Any managerial authorization(s)
•A unique number to identify the journal entry.
•Whether the entry is a one-time entry, a recurring entry, or a reversing entry.
• It may be necessary to attach extensive documentation to the journal entry, to prove why it is being recorded; at a minimum, provide a brief description of the journal entry.
• A journal entry is a record of the businesstransactions in the accounting books of a business. A properly documented journal entryconsists of the correct date, amounts to be debited and credited, description of thetransaction and a unique reference number.