Journal entry examples with answers image: When it’s time to record business transactions, you’re recording your analysis of every transaction in writing. In addition to the details gathered from your research, you must also include a brief description of the purpose and significance. When all this information is put together in one place, it gives you a clear picture of the transaction and the impact it had on the company’s financials. While most companies prefer to use concise descriptions of every transaction, there’s no set rule. You are free to provide any amount of detail you’d like.
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