Question

Why is it neccessary for a merchants to keep journal?

Answer 1

Answer:

It is necessary for a merchant to keep journal as while getting their accounts audited by auditor journals will be provided as proof that the transaction has been done.

Explanation:

Answer 2

Explanation:

A journal is a detailed account that records all the financial transactions of a business, to be used for future reconciling of and transfer to other official accounting records, such as the general ledger.