Question

what is ledger account

Answer 1

an account or record used to sort and store balance sheet and income statement transactions. Examples of general ledger accounts include the asset accounts such as Cash, Accounts Receivable, Inventory, Investments, Land, and Equipment.

Answer 2

transactions are recorded in the journal and thereafter they are posted to the relevant account in the ledger. ledger is a book in which various account asset account, liability account, capital account, revenue account and expenses account are opened and transactions are posted from the general block the ledger is also called the book of final entry