Question

What are the advantages of using a journal in the recording process?

Answer 1

Answer:

The advantages of using the journal in the recording process are: (1) It discloses in one place the complete effects of a transaction. (2) It provides a chronological record of all transactions. (3) It helps to prevent or locate errors because the debit and credit amounts for each entry can be easily compared.

Answer 2

Answer:

(1) It discloses in one place the complete effects of a transaction.

(2) It provides a chronological record of all transactions.

(3) It helps to prevent or locate errors because the debit and credit amounts for each entry can be easily compared.

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