The journal entry is the most common way of recording a transaction, in which the accountant manually enters the account numbers, debits and credits for each particular transaction.
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General Ledger is a grouping of all accounts used in the preparation of financial statements.The General Ledger is a controlling account because it summarizes all the activities that have taken places as recorded in its subsidiary ledger. -Tylersadboi
The maximum simple approach used to record a transaction is the magazine entry, wherein the accountant manually enters the account numbers and debits and credit for every individual transaction.
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Answer:
The journal entry is the most common way of recording a transaction, in which the accountant manually enters the account numbers, debits and credits for each particular transaction.
Answer:
The maximum simple approach used to record a transaction is the magazine entry, wherein the accountant manually enters the account numbers and debits and credit for every individual transaction.
Explanation:
Hope that helps:)