Which of the following is not a book of original entry?

The Journal

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The Ledger

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The Cash Book

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The Bill Receivable Book

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Solution

The correct option is C The Ledger
Books of original entry refers to the accounting journals in which business transactions are initially recorded. The information in these books is then summarized and posted into a general ledger, from which financial statements are produced.

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Explain briefly the purpose and advantages of maintaining a Bills Receivable Book?

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