JAMB - Accounts Principles Of Accounts (2016 - No. 3)
The major advantage of the journal proper is that it
helps in the preparation of the balance sheet
prevents fraud and theft of item of the business
serves as a book of instruction to the bookkeeper
help the banking industry to be efficient
Explanation
The advantages of using a journal in the recording process is, it discloses in one place the complete effects of a transaction, it provides a chronological record of transactions, & it helps to prevent or locate errors because the debit and credit amounts for each entry can be easily compared.
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