# Debits, credits and journals

> A dated record of accounts and debit/credit amounts for a transaction.

Course: [Financial accounting fundamentals](https://studybrix.com/en/courses/financial-accounting/index.md)
Level: university
Prerequisites: Basic arithmetic and percentages.

## Notes

### Journal entry

A dated record of accounts and debit/credit amounts for a transaction.

### Debit

The left side of a double-entry account.

### Credit

The right side of a double-entry account.

### Trial balance

A listing used to check that total recorded debits equal total recorded credits.

## Practice questions

### 1. Which term best matches this description: A dated record of accounts and debit/credit amounts for a transaction.

A. Debit
B. Credit
C. Journal entry
D. Trial balance

Answer: Journal entry

Explanation: Journal entry is the matching concept in this lesson.

### 2. Which term best matches this description: The left side of a double-entry account.

A. Debit
B. Trial balance
C. Journal entry
D. Credit

Answer: Debit

Explanation: Debit is the matching concept in this lesson.

### 3. Which concept would you apply first in a situation where the right side of a double-entry account.

A. Debit
B. Credit
C. Trial balance
D. Journal entry

Answer: Credit

Explanation: The scenario directly calls for Credit.

### 4. Name the concept described as: A listing used to check that total recorded debits equal total recorded credits.

Answer: Trial balance

Explanation: The intended concept is Trial balance.

### 5. Which statement about Journal entry is most accurate?

A. The right side of a double-entry account.
B. The left side of a double-entry account.
C. A dated record of accounts and debit/credit amounts for a transaction.
D. A listing used to check that total recorded debits equal total recorded credits.

Answer: A dated record of accounts and debit/credit amounts for a transaction.

Explanation: The definition in the lesson notes gives the required condition.

### 6. Explain one important difference between Journal entry and Debit.

Sample answer / marking guidance: Journal entry: A dated record of accounts and debit/credit amounts for a transaction. Debit: The left side of a double-entry account.

Explanation: Credit a clear distinction using both definitions and an appropriate example if supplied.

### 7. Give a short example showing how Credit would be used in practice.

Sample answer / marking guidance: A valid example should demonstrate this idea: The right side of a double-entry account.

Explanation: Credit a relevant scenario that applies the concept rather than merely naming it.

### 8. Summarize why Trial balance matters in the lesson “Debits, credits and journals”.

Sample answer / marking guidance: Trial balance matters because A listing used to check that total recorded debits equal total recorded credits.

Explanation: Credit the core purpose, scope and any important limitation from the notes.

## Further reading

- https://openstax.org/details/books/principles-financial-accounting

Original AI-assisted educational draft; not independently teacher-reviewed. References support further study, not copied exercises, affiliation or curriculum accreditation.