Question
Which of the following book is both a journal and a
ledger?Solution
A Cash Book serves as both a journal and a ledger because it records all cash transactions (both receipts and payments) in chronological order, similar to a journal. Additionally, it also acts as a ledger since it maintains a running balance of cash on hand or in the bank, which is a ledger-like function. This dual role makes the Cash Book a unique accounting record.
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