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Accounting Assignment

By Boniface Kwaghgba

Summary

the four differences between journal and ledger
Accounting Assignment
 
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Abstract

NAME: KWAGHGBA BONIFACE TERKIMBI

REG. NO: 66288080BJ

DEPARTMENT: BUSINESS ADMINISTRATION

COURSE OPTION: B.Sc BUSINESS ADMINISTRATION

COURSE: ACC101

  1. The Journal is a book where all the financial transactions are recorded for the first time. When the transactions are entered in the journal, then they are posted into individual accounts known as Ledger.
  2. The Journal is a subsidiary book, whereas Ledger is a principal book.
  3. The Journal is known as the book of original entry, but Ledger is a book of second entry.
  4. In journal, transactions are recorded in chronological order, whereas in ledger, transactions are recorded in analytical order.
     

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