Journal Entry

Journal Entry

A journal entry is a financial record of what a company has done. The record can be done on paper, but more often journal entries are computerized.

If I bought a freezer for $50,000, I would write this journal entry:
Freezer $50,000
    Cash $50,000

This entry records that the company owns a freezer and it paid cash.

There is currently no content classified with this term.

Get instant access to step-by-step instructions on how to apply and sit for the CPA Exam.