Journal and ledger records transactions in _________________.

A chronological order and analytical order respectively.

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An analytical order and chronological order respectively.

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A chronological order only

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An analytical order only

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Solution

The correct option is A A chronological order and analytical order respectively.
Journal and ledger records transactions in a chronological order and analytical order respectively.
Journal has 5 columns namely Date, Particulars, Ledger Folio, Debit Amount, Credit Amount.
Journal is known as the books of Prime Entry or Books of Original Entry.
The processing of posting the business transaction in a Journal is known as Journalizing.

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