Question

Observation an analytical study of 25 different ledger account

Answer 1

Sales ledger, records accounts receivable. This ledger consists of the financial transactions made by customers to the company.

Purchase ledger records money spent for purchasing by the company.

General ledger representing the five main account types: assets, liabilities, income, expenses, and Capital.

Answer 2

accounting transactions

Things to remember about General Ledger:

May be summarized in a trial balance and incorporated into the financial statementsPresented in order of the balance sheet and then income statement: Assets, liabilities, equity, revenue, expensesDebits presented as positive numbers, credits as negative.