Chapter 3: Journal Entries

The word 'Journal' is derived from the French word 'Jour', which means day! A journal is a note or a diary.


Many economic accounting transactions take place on a daily basis. To remember these transactions easily, some businessmen record them in a rough book so that they aren't skipped. From this rough book, they write accounts.
Applying the debit-credit rules of accounts, it is determined that which account will be debited and which account will be credited in order to record a transaction.
The book in which first effects of accounting transaction are made, is called a journal. Thus a journal is a book of original entries. It is a book of accounts where all accounting transactions are recorded in a chronological order.

In this course:
+ Introduction
+ Characteristics, Significance, Explanation and Specimen of Journal
+ Combined journal entry
+ Journal entry for different transactions
+ Transactions through bank
+ Loan and interest on loan
+ Trade discount, cash discount and allowance
+ Transactions of income and expense
+ Transactions of bad debts and bad debts return
+Journal Entries with Concept of GST Accounting

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