3. What are the transactions that are to be recorded in the general journal? When does the
transaction happened? What are the significant accounts that are affected in the transaction, and
by how much?
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3. What are the transactions that are to be recorded in the general journal? When does the
transaction happened? What are the significant accounts that are affected in the transaction, and
by how much?
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Answer:
Journal entry is an entry to the journal. Journal is a record that keeps accounting transactions in chronological order, i.e. as they occur. ... All accounting transactions are recorded through journal entries that show account names, amounts, and whether those accounts are recorded in debit or credit side of accounts.