Which types of ledger are popular?
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Answer: The three types of ledgers are the general, debtors, and creditors. The general ledger accumulates information from journals. Each month all journals are totaled and posted to the General Ledger
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A ledger is also known as the principal book of accounts and it forms a permanent record of all business transactions.
- Sales Ledger or Debtors' Ledger. First among different types of ledgers is “Sales or Debtors' ledger”
- Purchase Ledger or Creditors' Ledger.
- General Ledger.
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