Meaning of Journal:-
The term Journal is derived from the French word 'Jour' which means daily recorded.
Journal is a primary book of original entry. In this book, the business transaction are recorded in chronological order firstly.
It has five columns such as- Date, Particulars, ledger folio no., Debit and Credit.
Golden rules of JOURNALISING -
1- Personal A/c :- Receiver is Debit.
Giver is Credit.
2- Real A/c :-. What comes in is Debit.
What goes out is Credit.
3- Nominal A/c :- All expenses losses are Debit.
All income and profits are Credit.
0 Comments