Lesson Five: Introduction to Journal Entries

Now that we have conquered the basics, it is time for our final lesson: how to journalize a journal entry.

If you have mastered the prior lessons, a journal entry is simply about formatting. Essentially, you will be following these journal entry rules:

1. Every entry will affect at least one debit and at least one credit.
2. Debits must be listed first.
3. Debits must equal credits.

The basic format of an entry is as follows:

Date	Description	Debit	Credit
XX/XX/XX	[Debit Account]	[Debit Amount]
	[Credit Account]		[Credit Amount]

Follow along with the video below to see journalizing in action.

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Learn

Watch

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Test Your Understanding

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Congratulations!

You have completed all five lessons of Journal Entries: The Basics. Ready to move on to something new? Click the list below to learn about the full 10-step accounting cycle!