differentiate between special purpose journal and main journal?
Answers
Explanation:
special journals are specialized lists of financial transactions records which accountant call journal entry . Each special journals records transaction of a specific type such as sales,or purchases.for example, when a company purchase
merchandise from a vendor,and then in turn sells the merchandise in one journal and the sale is recorded in another
2) The form of the journal is adjusted to the columns needed to record similar transcription
main general is also a book of prime entry that is used to record all other transactions which are not recorded in the special journals and cash book it normally includes entries for adjustment like accruals and prepayment, correction of errors,depreciation , writting down of inventory and sales and purchases of non current assets. All transactions are recorded in form of double entry.
2) In general journal all the transactions are recorded in the form of two or more line entry.