Question

Diffcrentiate between journal and ledger​

Answer 1

Answer:

Main difference between journal and ledger is that; the business transactions are at first recorded in the journal and then these transactions are permanently posted in the ledger. The ledgers are classified based on the nature of transactions, in respective heads.

Answer 2

Ans=Journals and ledgers are where business transactions are recorded in an accounting system. In essence, detail-level information for individual transactions is stored in one of several possible journals, while the information in the journals is then summarized and transferred (or posted) to a ledger.

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