Journal Meaning In Accounting With Example

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A journal keeps the record of the transaction between the accounts in order by date. Recording the transaction in the Journal according to the nature of the accounting concepts. Every entry has dual-effect on accounts Debit & credit.

For Example:
Purchase the brushes, comb, scissor for cash $20.
Journal Entry

Date Entries Debit Credit
11-10-2019 Purchases 20$
11-10-2019 Cash 20$

Debit:     Purchases
Credit:    Cash

 

Date Particulars L.F. Amount
Debit Credit
xx-xx-xx … … … … A/c Dr.

To … … … … A/c

(… … Narration… …)

xx

xx

xxxx  

xxxx

 

Ayat UR Rehman

I'm a self-taught programmer and professionally studying Accounting and Finance. I love blogging to explore the world. It gives a chance to learn several things from different systems.

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