3. 1. Your personal diary
2. The recording of financial data / Transactions
2. The textbook says:
“The journal records all parts of a transaction in one
place. The date, the debit, the credit and an
explanation for each transaction are recorded
together.”
3. Can record manually or electronically
4.
5.
6.
7.
8. Type of Accounts Debit Credit
Asset Increase Decrease
Liability Decrease Increase
Capital Decrease Increase
Revenue Decrease Increase
Expense Increase Decrease
Drawings Increase Decrease