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Record each transaction or event in the journal using a consistent format. This typically includes the specific details of the transaction, such as the account involved, the amount debited or credited, and a brief description.
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Daily journal corporation is a report that records all the daily transactions of a company.
All corporations are required to file a daily journal corporation.
You must record all daily transactions in the journal following the specific format provided by the regulatory body.
The purpose of daily journal corporation is to maintain a record of all financial transactions carried out by a corporation.
All financial transactions must be recorded including date, description, amount, and account affected.
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