Ledger Entries

BUSINESS STUDIES FOR JSS2 SECOND TERM

SUB -THEME: COMMERCE-THE HEART OF BUSINESS

WEEK 9

Ledger Entries

 Performance objectives:

Students should be able to:

      1. Define a ledger
      2. Identify the item on the ledger
      3. Record cash receipt
      4. Record payment
      5. Record discount received and allowed
      6. Make contra entry in the ledger

 

Contents:

A ledger can be defined as an important book of account in which all accounts are recorded. It contains an account of individuals, an account of properties (assets) of the business and also an account of expenses and incomes.

                          

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