General journal

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The general journal is where double entry bookkeeping entries are recorded by debiting one account and crediting another account with the same amount. The amount debited and the amount credited should always be equal, thereby ensuring the accounting equation is maintained.

Depending on the business's accounting information system, specialized journals may be used in conjunction with the general journal for record-keeping. In such case, use of the general journal may be limited to non-routine and adjusting entries.

[edit] Format

A general journal entry includes:

1. The date of the transaction;
2. Titles of the accounts debited and credited;
3. The amount of each debit and credit; and,
4. An explanation of the transaction also known as a Narration.

[edit] Example

Date	General ledger account title	Debit	Credit
mm/dd/yyyy	Phone expense	$200
	Cash		$200

Explanation: To pay telephone bill