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Question: What is the difference between JOURNAL ENTRY & LEDGER
Answer: A journal is also called as a book of prime entry.<br>transactions occured are first entered in this book to show<br>which accounts should be debited and which should be credited.<br><br>on the basis of entries made in the journal, accounts are<br>prepared, the book which contains the accounts is called a<br>ledger. transactions entered in the journal are classified<br>according to their nature and posted in their respective<br>accounts in ledger. it is also called as book of final entry.
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Question:
What is the difference between JOURNAL ENTRY & LEDGER
Answer:
A journal is also called as a book of prime entry.<br>transactions occured are first entered in this book to show<br>which accounts should be debited and which should be credited.<br><br>on the basis of entries made in the journal, accounts are<br>prepared, the book which contains the accounts is called a<br>ledger. transactions entered in the journal are classified<br>according to their nature and posted in their respective<br>accounts in ledger. it is also called as book of final entry. Source: CoolInterview.com
journal is the book of original entry ,where the transaction nare recorded for the first time.
ledger is the king of books of accounts where accounts are maintained .it bis also known as book of final entry. Source: CoolInterview.com
Answered by: rekha nahar jain | Date: 5/12/2010
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