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Journal Entry

An accounting method of keeping track of transactions where each transaction affects at least two accounts.

A journal entry in accounting is the logging of a transaction into accounting journal items. It usually includes the date of the transaction, the accounts affected, the amounts to be debited or credited from each account, and a brief description of the transaction. In a double-entry bookkeeping system, which is used by most companies, every transaction is recorded in at least two accounts - as a debit in one account and as a credit in another. In the context of cryptocurrencies, a journal entry might be made when a company buys or sells cryptocurrencies, pays expenses in cryptocurrency, or pays employees in cryptocurrency.


A company buys 1 Bitcoin for $10,000. In this case, the journal entry would debit the "Cryptocurrency" asset account for $10,000 and credit the "Cash" account for $10,000.


General Accounting
Crypto Accounting
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