What type of information does the general journal include for each transaction?
The entries in a general journal include the following information about each transaction:
Date: The year appears on the first line of the first column, the month on the next line of the first column, and the day in the second column opposite the month. For subsequent entries on the same page for the same month and year, the month and year can be omitted.
Accounts: The names of the accounts debited and credited appear in the Description column. The names of the accounts that are debited are placed next to the left margin opposite the dates; on the line below, the names of the accounts credited are indented.
Amounts: The debit amounts appear in the Debit column opposite the accounts that are debited, and the credit amounts appear in the Credit column opposite the accounts credited.
Explanation: An explanation of each transaction appears in the Description column below the account names. An explanation should be brief but sufficient to identify the transaction.
Account numbers: The account numbers appear in the Post. Ref. (posting reference)
column, if they apply.
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