When a journal entry is recorded into a company's journal, it's usually recorded using a double-entry method, but can also be recorded using a single-entry method of bookkeeping.
Double-entry bookkeeping is the most common form of accounting.
A journal is a detailed account that records all the financial transactions of a business, so that they can then be used for future reconciling of and transfer to other official accounting records, such as the general ledger.
A journal states the date of a transaction, which accounts were affected, and the amounts, usually in a double-entry bookkeeping method.
It directly affects the way journals are kept and journal entries are recorded.
Every business transaction is made up of an exchange between two accounts.
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