Journal

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JOURNAL

MEANING:- The term 'journal' is derived from the french word 'jour' which means a day. Journal therefore means a day book or daily record. And since business transactions are first recorded chronologically in the journal form the 'source documents', journal is referred to as book of original or prime entry.
Essential features: 
(i) It is a day book or day record because it records transactions the same day.
(ii) It is a chronological record book since transactions are recorded in order of their date of occurrence.
(iii) It is a book of original entry.
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