Correct Answer: Journal Entries are recorded on a double entry system ie debit and credit concept In order to record a journal entry the following steps need to be followed - Enter the Journal entry number - Enter the Date of transaction - Enter the Debit item (as per the golden principles of accountancy) - Enter the corresponding GL folio number - Enter the Debit amount - Enter the credit item(as per the golden principles of accountancy) - Enter the amount in the credit column - Provide a brief description of the transaction - leave a single line before next transaction
