Accountancy, asked by wwk2oenk6aDuSREEV, 1 year ago

What Is the meaning of opening journal entry.?

Answers

Answered by abhishek57
1
It is the first entry passed in the journal book incorporating the closing balance of previous year are known as opening journal entry
Answered by BrainlyBAKA
0

Journal means daily records.

In this, transactions are recorded in order of their occurrence, i.e., in chronological order from the source document.

Specimen of journal showing at least five entries :-

Date− Date of transaction is recorded in the order of their occurrence.

Particulars− Details of business transactions like, name of the parties involved and the name of related accounts, are recorded.

L.F.− Page number of ledger account when entry is posted.

Debit Amount− Amount of debit account is written.

Credit Amount− Amount of credit account is written

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