What
is purpose of Journal Entry
Journal entry is language
of accounting, the transaction are recorded in the books of account with the
help of journal entry. Every transaction has two aspects i.e. debit and credit.
The recording of transaction in term of debit and credit is known as journal
entry.
Format
of journal entry
For example journal entry
for credit sales is given as under.
|
Date
|
Particulars
|
Dr.
|
Cr.
|
|
|
Account
receivable a/c
|
$ 10,000
|
|
|
|
Sales a/c
|
|
$ 10,000
|
The simplest format of
journal entry contains the four column i.e. date, particular, debit and credit.
