A general journal is a book of raw business transactions recorded in chronological order by date.
General journal typically contain information about things like cash receipt and payment.In addition,they can also contain inventory,balances,purchases and sales.
•Cash receipt: A cash receipt is a proof of purchase issued when the buyer has paid in cash.
p•Payments:
Payment is the transfer of money, goods, or services in exchange for goods and services in acceptable proportions that have been previously agreed upon by all parties involved.
•Inventory:Inventory refers to all the items, goods, merchandise, and materials held by a business for selling in the market to earn a profit.
•Balance:Balance gives insights into a company and its operations. It reveals a company's liabilities, assets, and owners' equity net worth.
•Purchase and sales:Purchase is a process through which a person gets the ownership of some goods or properties transferred in his name from another, on payment of money. Similarly, sale is a process through which the ownership of some goods or properties is transferred from one person (seller) to another person (buyer), for a price.