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What Is The Journal Entry Of Started Business With Cash?

January 24, 2024 by Jasmine Sibley

What Is The Journal Entry Of Started Business With Cash? Journal entry for started business with cash The cash a/c is debited as it is an asset for the business and the capital a/c is credited as it is a liability for the business according to the business entity concept. How do you prepare journal

What Is The Relationship Between Journal And Ledger?

January 24, 2024 by Emily Lee

What Is The Relationship Between Journal And Ledger? Business transactions are recorded first in Journal and other books of original entry and then from these books they are transferred to Ledger. Journal records transactions in a chronological order while the ledger records the transactions in a classified form. Is ledger and journal the same thing?