A journal with a debit and credit column for recording transactions is known as a___________.

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25-07-2022
Business

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A journal with a debit and credit column for recording transactions is known as a___________.

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smecloudbird18 smecloudbird18 · Answer 1 · 2022-08-02T15:03:11+02:00

A journal with a debit and credit column for recording transactions is known as a General journal. All other financial reports are built on top of journal entries. They offer crucial data that auditors use to assess how financial transactions affect a corporation. A diary is an example of a journal because it allows you to record your thoughts and events.

Scholarly, popular, and trade periodicals are the three categories into which the majority of journals and magazines fall. General ledger, which is then used to produce financial statements of a business, is created using entries in an accounting journal.

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