Journal

Business Studies J.S.S 1 Third Term

WEEK 5

Journal

Performance Objectives

The student should be able to:

     1. Explain the meaning of journal.

     2. Draw the correct form of a journal.

     3. List the different types of journal.

     4. Use source documents for preparation of an appropriate book of original entry.

Content

Meaning of Journal

A journal is a document which contains the daily records of business transactions. Each record in a journal is called an entry. The journal is called a book of original entry because its entries are transferred to a second book.

Types of Journal

There are two major divisions of Journals:

1. General Journal: This is a book that records all transactions…