=64.= Journalizing is one of the most important operations in bookkeeping, since journalizing a transaction involves the selection of the proper accounts to be debited and credited completing the double entry. With the use of separate sales and purchase records, the journal itself is used principally for those entries involving a transfer of values from one account to another. These are frequently referred to as _cross entries_. The number of possible entries of this class is practically unlimited, and they require careful study on the part of the bookkeeper. Rules for journalizing are frequently referred to in bookkeeping textbooks; but, since the custom of journalizing every transaction is now obsolete, the term is no longer sufficiently descriptive. A better term to use would be _rules for debit and credit_, for it is the rules of debit and credit that must be followed when a journal entry is to be made. [Illustration] =65. Three-Column Journal.= A three-column journal suitable for a small business is shown above. The third column is used for sales only, while the first two columns are used for regular journal entries. The use of the column for sales answers the same purpose as a sales book, and total sales are posted to the credit of sales account at the end of the month. SAMPLE TRANSACTIONS =66.= For the purpose of demonstrating the principles of debit and credit as exemplified in the journal, the following transactions except those involving cash are _journalized_ in a three-column journal. The third column is used for sales, and it is to be understood that a cash account is kept in a separate cash book. --April 2-- Sold to Hiram Watson on account 10# gran. sugar 5½c. $.55 3 bars soap .25 2# starch 5 .10 2 cans corn .25 $1.15 ---- --2-- Paid electric light bill--cash 4.75 --2-- Sold for cash sundry merchandise 8.60 --3-- Bought from Eureka Milling Co. on account 5 bbls. XXX flour 3.75 18.75 --4-- Sold to J. L. Jarvis on account ¼ bbl. flour 1.25 2# butter .32 .64 1# coffee .30 10# lard .11 1.10 3.29 ---- --4-- Bought from J. L. Jarvis on account Fire Insurance on stock and fixtures, $3,000.00 for one year from date 18.00 --5-- Paid Eureka Milling Co. cash 18.75 --6--