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Camille Beasley
Business
14 July, 02:16
What is journal and ledger
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Vasquez
14 July, 02:18
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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
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