define journal entry and ledge book in detail with example.
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A journal entry is used to record a business transaction in the accounting records of a business. ... The general ledger is then used to create financial statements for the business. The logic behind a journal entry is to record every business transaction in at least two places (known as double entry accounting).
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A journal entry is a record of the business transactions in the accounting books of a business. A properly documented journal entry consists of the correct date, amounts to be debited and credited, description of the transaction and a unique reference number. A journal entry is the first step in the accounting cycle
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