What is a ledger account?

1.	What is a ledger account?
Answer» A ledger account is an account which contains a record of the business transactions. It is actually a separate record inside the general ledger which is assigned to a particular ASSET, EQUITY ITEM, liability, revenue TYPE or an expense type. Examples of ledger accounts are: Cash Accounts receivable Inventory Fixed assets Accounts payable Salaries and wages Office expenses Income tax expense

Answer»

A ledger account is an account which contains a record of the business transactions. It is actually a separate record inside the general ledger which is assigned to a particular ASSET, EQUITY ITEM, liability, revenue TYPE or an expense type.

Examples of ledger accounts are:

Cash
Accounts receivable
Inventory
Fixed assets
Accounts payable
Salaries and wages
Office expenses
Income tax expense

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What is a ledger account?

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