easy way to study ledger
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As per accounting principle, the transactions just after their occurrence are recorded in the primary book of account – journal in chronological order of dates with explanations.
But it is not possible to determine the complete results of transactions from the journal.
That is, it is not possible to know the information like how much profit under what heads have been earned, how much expenses under what head has been incurred, how much assets and liabilities are there in a particular business concern from journal.
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