A general journal contains?

Assessment: JAMB UTME - Principles of Accounts - 2000 Subject: Financial Accounting

Question 1 Report

A general journal contains?
Answer Details
A general journal typically contains the following five columns: 1. Date: the date on which the transaction occurred or was recorded. 2. Narration: a brief description of the transaction or event being recorded. 3. Folio: a reference number indicating the page number in the ledger where the corresponding account is being debited or credited. 4. Debit: the amount debited or charged to the account(s) involved in the transaction. 5. Credit: the amount credited or added to the account(s) involved in the transaction. Therefore, based on the options provided, the correct answer is the first option: "date, narration, folio, debit, and purchases."
Read lesson note on Cashbook (JAMB)
Read lesson note on Principles Of Double Entry (JAMB)
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