what is journal?? explain in short for one line answers
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A journal is a detailed record of all the transactions done by a business. Reconciling accounts and transferring information to other accounting records is done using the information recorded in a journal. ... Single-entry bookkeeping is rarely used and only notes changes in one account.
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It is the book of prime entry or the book of original entry where the financial transaction are recorded in the chronological order as and when they take place.
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