Give two advantages of a Journal. - Vidyadip

Question

Give two advantages of a Journal.

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Answer

Advantages of a Journal:

Provides Accounting Data in Chronological Order: Transactions in the Journal are recorded as they take place. Thus, it makes available the accounting record in chronological order as well as datewise.
Possibility of Error Reduces: Possibility of errors is reduced as the amounts to be debited and credited are written side by side and the two can be compared to verify whether they are equal or not. If the accounts are written up directly in the ledger account, there is a possibility of wrong amount being written or the amount written on the debit side may be more or less than on the credit side.

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