General Journal Entry

The General Journal Entry is he journal is the point of entry of business transactions into the accounting system. It chronological, showing an explanation of each transaction, the accounts affected, the amounts (positive or negative), and may include a note or comment about the transaction. The purchase of manufacturing supplies might look like this:

Account              Debit              Credit

Cash                    $1,000

Inventory                                  $1,000

Purchased maintenance supplies.