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Financial & Managerial Accounting
Found in: Page 79
Financial & Managerial Accounting

Financial & Managerial Accounting

Book edition 7th
Author(s) John J Wild, Ken W. Shaw, Barbara Chiappetta
Pages 1096 pages
ISBN 9781259726705

Short Answer

What kinds of transactions can be recorded in a general journal?

Any type of transaction can be recorded in a general journal.

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Step by Step Solution

General Journal

The general journal is the first book to record the transaction. It includes the date, account title and explanations, posting reference, and amount in the debit or credit column.

kinds of transactions to be included in the general journal

As the name indicates, it is the general journal. So, because of the general nature, there is no specific requirement for the transaction to be included. Any transaction can be traced into the general journal as soon as the event takes place. The transactions are recorded in chronological order.

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