JOURNAL ENTRY Definition

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JOURNAL ENTRY is the beginning of the accounting cycle. Journal entries are the logging of business transactions and their monetary value into the t-accounts of the accounting journal as either debits or credits. Journal entries are usually backed up with a piece of paper; a receipt, a bill, an invoice, or some other direct record of the transaction; making them easy to record and to maintain traceability for each transaction.

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WRITE-DOWN is the reduction in the book value of an asset.

MARKET MULTIPLE see PRICE EARNINGS MULTIPLE.

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