Lesson Progress
0% Complete
Topic Content:
- Posting into a Ledger using Double-Entry System
Posting is the process of transferring the entries from the books of original/prime entry (journal) to the ledger.
No new information is needed to prepare ledger accounts. The information that has already been recorded in the journal is just transferred to the relevant ledger accounts.
Let’s illustrate the format of a ledger account by preparing a journal entry and then transferring it to the relevant ledger accounts.
Transaction: on September 1, 2018, Kofa Enterprise sold books to customers for cash ₦50,000.
First, Let’s post this transaction to the general journal and then to the relevant ledger accounts.
You are viewing an excerpt of this topic. Subscribe now to get full access!
Click on the button "Subscribe Now" below for Full Access
Thanks for this note. It’s really helpful.