Question

What is journalizing? What are its advantages and disadvantages?​

Answer 1

In a journal, we record each transaction after deep analysis of two accounts on the basis of double entry system, so there is a minimum chance of mistake in the journal. Journal is the basis of posting transactions in ledger accounts. Without making of the journal, an accountant can not make ledger accounts.

Answer 2

Explanation:

In a journal, we record each transaction after deep analysis of two accounts on the basis of double entry system, so there is a minimum chance of mistake in the journal. Journal is the basis of posting transactions in ledger accounts. Without making of the journal, an accountant can not make ledger accounts.