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hello, where do payable accounts and notes, receivable accounts and cash go under t accounts after doing the journal entries of business logs

hello, where do payable accounts and notes, receivable accounts and cash go under t accounts after doing the journal entries of business logs

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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hello,

where do payable accounts and notes, receivable accounts and cash go under t accounts after doing the journal entries of business logs

 

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General Ledger is collection of all the accounts in an accounting system. It is also known as principal book of records or books of accounts.

The ledger is the most important of all the books used by a business as it includes all these summaries of transactions. It provides a permanent record of financial transaction of a business. The journal might conceivably be dispensed with, the Ledger accounts are a necessity.

 

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