Accounting Dictionary
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.
Sign Up to Learn More!
Join our mailing list today to get notified of new discount offers, course updates, Roger CPA Review news, and more!