Accountancy, asked by tisanrockz, 1 year ago

what is journal and explain types of accounts​

Answers

Answered by sonalip1219
13

The answer is stated below:

Explanation:

  • The journal is defined as the detailed as well as informative account, which records or post all the financial transactions of the business or company, and that is used for the future for reconciling as well as transfer to other accounting records like the general ledger.

  • Kinds of accounts

1. Real accounts - Which states

Debit what comes in and Credit goes out

2. Nominal accounts - Which states

Debit all income and losses and Credit all gains or profits and Income

3. Personal accounts - Which states

Debit - receiver and Credit - giver

You can learn more from here about journal:

https://brainly.in/question/12354135

You can learn more from here about types of accounts:

https://brainly.in/question/11990768

Similar questions