Question

Difference between journal and ledger​

Answer 1

Explanation:

The key difference between Journal and Ledger is that Journal is the first step of the accounting cycle where all the accounting transactions are analyzed and recorded as the journal entries, whereas, ledger is the extension of the journal where journal entries are recorded by the company in its general ledger account .

Answer 2

Main difference between journal and ledger is that:-

Journal: The business transactions are at first recorded in the journal and then these transactions are permanently posted in the ledger.

Ledger: The ledgers are classified based on the nature of transactions, in respective heads.