Ledger Posting of :
Cartage A/C AC To Cash A/C CPald Cartage) 200
Answers
Explanation:
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Answer:
During the preparation of accounts, an accountant is required to post various entries from various journals and cash books to the ledger accounts. Let us take a look at the process of posting such journal entries from the books of accounts in various ledgers.
A Journal is simply a chronological record of all the business transactions that take place in an organization. However, if we want to know the net effect of various transactions that affect an item, we need to go through the entire journal, which takes a lot of time.
A Ledger is a book which contains a summarized and classified form of complete record of all transactions. Since it contains complete information about various transactions, it is called the ‘Principal Book’.