Ask Question
18 August, 07:30

What is journal and ledger

+1
Answers (1)
  1. 18 August, 09:04
    0
    ledger account contains a record of business transactions.

    while

    journal is defined as the book of original entry.

    Explanation:

    A ledger account contains a record of business transactions. It is a separate record within the general ledger that is assigned to a specific asset, liability, equity item, revenue type, or expense type. Examples of ledger accounts are: Cash. Accounts receivable.

    A journal is a detailed account that records all the financial transactions of a business, to be used for future reconciling of and transfer to other official accounting records, such as the general ledger
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “What is journal and ledger ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers