Students can go through AP Inter 1st Year Accounts Notes 4th Lesson Journal will help students in revising the entire concepts quickly.
Journal Class 11 Notes AP Inter 1st Year Accounts 4th Lesson
→ A journal is a book in which an account-ing transaction is written in accounting terms.
→ The Journal is called the ‘book of original entry’ or the ‘book of primary entry’, as all the transactions related to a business are first entered in this book.
→ In Journal, transactions are entered in the chronological order i.e., in the sequence in which they occur.
→ The process of recording the transaction in the Journal is called “Journalising” and the entry made in the journal is called “Journal entry”.