Journal entries are the primary records of accounting transactions in a business. They are the first step in the accounting cycle and involve recording the financial effects of business activities in chronological order. Each entry typically includes at least two parts: a debit and a credit, which represent equal and opposite changes in different accounts.

Here's a basic example:

Let's say a company receives $1,000 in cash as payment for services rendered. The journal entry would look like this:

Debit Cash account by $1,000
Credit Service Revenue account by $1,000
This entry indicates that the company received $1,000 in cash (an asset) and earned $1,000 in service revenue (revenue). Both sides of the entry must balance, so the total debits equal the total credits.

Journal entries can vary greatly depending on the nature of the transaction, the accounting method used (e.g., accrual basis or cash basis), and the specific accounts involved. They serve as the basis for creating financial statements and analyzing a company's financial performance.