Accountancy, asked by abhishektirkey902, 3 months ago

Explain the need of preparing journal.

Answers

Answered by preksham2006

3

A journal is the original source of the information contained in your financial reports. ... After entries are posted to the journal, your accounting system transfers the information to the ledger, which then is used to produce your income statements and balance sheets. The ledger is referred to as the book of final entry.

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