Notice that for this entry, the rules for recording journal entries have been followed. A compound entry is when there is more than one account listed under the debit and/or credit column of a journal entry (as seen in the following). Note that this example has only one debit account and one credit account, which is considered a simple entry. It is not taken from previous examples but is intended to stand alone. Skip a space after the description before starting the next journal entry.Īn example journal entry format is as follows.You will write a short description after each journal entry.The dollar value of the debits must equal the dollar value of the credits or else the equation will go out of balance.You will always have at least one credit (possibly more).You will have at least one debit (possibly more).
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