The Journal Is Where a Transaction Is Found in an Accounting Record

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The Journal Is Where a Transaction Is Found in an Accounting Record

the  is where a transaction can first be found in the accounting record

An account can be divided into a journal and a book of original entry. Each journal entry describes a financial transaction, dates it occurred, and the amount of money changed in the account. The journal is the first place a transaction can be found in an accounting record. It is used to prepare financial statements and to reconcile accounts in the future. Computerized accounting systems make this process simple.