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Confirm 100% waec 2016 financial account by gurushood.com

Confirm 2016 financial account obj and theory

3a) Sales journal is use to record credit sales of transaction.
- purchase journal is use to record credit purchase of a transaction
-cash book is a book in which receipt and payment of money are recorded
-The pretty cash book is a formal summaization of petty cash expenditions sorted by date. in most cases, the pretty cash book is an actual ledger book,rather than a computer record.thus the book is part of a manuel record- keeping system.
-Return inwards are goods returned to the selling entity by the constomer,such as for warranty claims or outrig returns of goods for a credit
3b)Uses of journal
*They are used to record errors
*record purchase and sale of fixed assets on credit.
*record closing entrie
*record transfers between ledgers.
*Record opinig the closing entires,write

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Posted By Examlord On 09:03 Tue, 19 Apr 2016

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