*From whom was the tax called Tally received?*
1️⃣ From the feudal lords
2️⃣ From the farmers
3️⃣ From the traders
4️⃣ From the Serfs
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Journal is a memorandum book to record transactions date wise. On a particular date, what are total purchases, total sales, debtors, creditors, incomes, expenses may not be known as journal. And to get information about the above, the entries passed in the journal are classified on the basis of their nature in another book which is known as ledger.
An account represents a detailed record of changes that have occurred in a particular asset, liability, expense, loss, gain or capital during the accounting period. All these separate accounts are kept in a loose leaf binder, and the entire group of accounts is called a ledger.
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