explain division of journal explain
Answers
Explanation:
In a large business concern a journal is divided into parts so that several clerk could work at the same time. This is known as subdivision of journal.
Division of Journal - 1. General Journal
2. Special Journal
Explanation:
A Journal is a book with a main content . Each transaction is first written to the journal and the transferred from there to the ledger account . Record transactions in chronological order.
1. General Journal- This book records transactions in chronological order . This book records transactions that occur infrequently and cannot be recorded in special journals. Recording transactions records are also known as journal records.
2. Special Journal- It is widely known as a companion book. We also record transactions in chronological order in this book.However , we do record transactions that occour frequently and regularly on these ledgers. All transactions of this type are recorded in a separate ledger.