Ques:- Some practical knowledge of Journal
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Right Answer:
A journal is a detailed record of all financial transactions in chronological order. Each entry typically includes the date, accounts affected, amounts, and a brief description of the transaction. Journals serve as the first step in the accounting cycle before entries are posted to the ledger.
A journal is a detailed record of all financial transactions in chronological order. Each entry typically includes the date, accounts affected, amounts, and a brief description of the transaction. Journals serve as the first step in the accounting cycle before entries are posted to the ledger.