A transaction that is recorded in the journal is called a journal entry.

Journal Entry

A record in accounting that logs the debit and credit parts of a transaction in the financial records of a company.

Journal

A record where all financial transactions are initially recorded, using debits and credits, before being posted to individual accounts.

Grasp the significance and notation strategies in journalizing and posting within the accounting routine.

Verified Answer

Final Answer :

True

Explanation :

This statement is true. A journal entry is the recording of a transaction in a journal.

Learning Objectives

Grasp the significance and notation strategies in journalizing and posting within the accounting routine.