Question

discride how accounts are used to record information about the effects of transaction ? explain with imagery examples
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Answer 1

Answer:

By journal accounts are to record information about the effects of transition

Explanation:

For example, Started Business with cash . Rs. 100000 on 1-4-19

Every transaction in accounts has dual effect.

This Transaction is known as

Date Particulars Debit amt credit amt

1-4-19 Cash acc Debit 100000

To Capital Account. 100000