The correct answer is A. Narration.
A narration is a brief explanation recorded below every entry in General Journal. It describes the reason for the transaction and the accounts that are affected. The narration is important because it provides a clear and concise record of the transaction.
The other options are incorrect because they do not accurately describe the purpose of a narration. Explanation is too broad and could refer to any type of explanation, not just the one recorded in a general journal. Summary is also too broad and could refer to any type of summary, not just the one recorded in a general journal. Other information is too vague and does not provide any specific information about the purpose of a narration.
Here is an example of a narration:
Date: 2023-02-25
Transaction: Sold goods on account to ABC Company for $1,000.
Accounts affected: Accounts Receivable, Sales
Narration: Sold 100 units of product X to ABC Company for $10 per unit, terms net 30 days.
As you can see, the narration provides a clear and concise explanation of the transaction. It also identifies the accounts that are affected by the transaction.