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Excerpt

A journal entryJournal Entry is a record of the business transactions in the accounting books of a business. A properly documented a business transaction that is stored in the General Ledger. A journal entry consists of the correct date, amounts to be debited and credited, a unique reference number (Journal ID), Date, a description of the transaction and a unique reference number, and two or more Journal Lines consisting of either a Debit Amount or Credit Amount.