Accounting cycles

General Accounting Principles

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The explanation of journal is written as

Details

Ledger folio

Narration

None of the above

Explanation:

A short explanation of each transaction is written under each entry which is called narration. The subject matter of the transaction can be ascertained through narration. Besides this, if there be any mistake in determining debit or credit aspect of a transaction, it can be easily detected from narration

By: NIHARIKA WALIA

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