Question

61- Analysis of a transaction in terms of debit
and credit is required for :
a. Balancing b. Journalizing
Posting
d. None of these
Porting moan
C.
​

Answer 1

Answer:

ANSWER

When the business transactions take place, the first step is to record the same in the books of original entry or subsidiary books or books of prime or journal. Thus, journal is a simple book of accounts in which all the business transactions are originally recorded in chronological order and from which they are posted to the ledger accounts at any convenient time. Journalisisng refers to the act of recording each transaction in the journal and the form in which its is recorded, is known as a journal entry.