1.

What are the difference between books of original entry or journal and ledger?

Answer»
JournalLedger
1. Book of primary or initial entry1. Book of secondary entry
2. Transactions are entered in the order of their occurrence.2. Entries are recorded in an analytical order
3. The process of entering transactions in called journalizing.3. The process of recording is called posting.
4. Balancing is not done in the books of original entry.4. All ledger accounts are balanced



Discussion

No Comment Found

Related InterviewSolutions