What is a ledger in Accounting principles

June 15, 2026Accounting

ScanSolve AI Answer

June 15, 2026

In accounting, a ledger is a principal book or collection of books that contains the accounts of a business. It is used to classify and summarize financial transactions. Each account in the ledger shows the debits and credits related to that specific account.

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In accounting, a ledger is a principal book or collection of books that contains the accounts of a business.

Asked on June 15, 2026Accounting

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ScanSolve AI AnswerAnswered on June 15, 2026

In accounting, a ledger is a principal book or collection of books that contains the accounts of a business. It is used to classify and summarize financial transactions. Each account in the ledger shows the debits and credits related to that specific account. Send me the next one 📸