what is the difference between journal entry and ledger
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Answer Posted / h.r. sreepada bhagi
Journal Entry is the source through which a business
transaction or an adjustment is recorded in the books. Where
as a Ledger is an account of a specific vendor, customer,
expense, income, Capital, Liability, etc, where all entries
related that account are recorded in the order of their
entry through journal.
In Book Keeping, Journal is the source and Ledger is the
destination. Balance in all the ledger at the end of an
accounting period are taken in the Trial Balance and from
this list of account balances Profit & Loss A/c and Balance
Sheet are prepared for any accounting period.
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