Explain what does the standard journal entry includes

A standard journal entry is a systematic recording of financial transactions in accounting. It follows a specific format and includes essential information to maintain accurate and organized financial records. The typical components of a standard journal entry include:

1. **Date:** The date on which the financial transaction occurred. This helps in organizing and tracking transactions chronologically.

2. **Account Titles:** The names of the accounts affected by the transaction. Each entry involves at least two accounts—one account is debited, and another is credited. Debits and credits must always balance in accounting.

3. **Debit Amount:** The amount entered on the left side of the journal entry. Debits increase assets and expenses or decrease liabilities and revenues.

4. **Credit Amount:** The amount entered on the right side of the journal entry. Credits increase liabilities and revenues or decrease assets and expenses.

5. **Narration or Description:** A brief description or explanation of the transaction, providing context for future reference and auditing.

6. **Reference Number:** Some accounting systems use reference numbers to link journal entries to supporting documentation, such as invoices or receipts.

Here's an example of a simple journal entry:

```
Date       | Account Titles        | Debit ($) | Credit ($) | Description
-----------|-----------------------|-----------|------------|-------------------------
2024-03-09 | Cash                  | 1,000     |            | Received cash payment
2024-03-09 | Service Revenue       |           | 1,000      | Earned revenue for services
```

In this example, "Cash" is debited with $1,000 because cash is received, and "Service Revenue" is credited with $1,000 because revenue is earned for services provided. The description provides additional details about the transaction.