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Journal - In accounting and bookkeeping, a journal is a record of financial transactions in order by
date. Traditionally, a journal has been defined as the book of original entry. The definition was more
appropriate when transactions were written in a journal prior to manually posting them to the
accounts in the general ledger or subsidiary ledger.
Returns outward Journal - Return outwards are goods returned by a customer to the seller. They
are goods which were once purchased from external parties, however, because of being
unsatisfactory they were returned back to them, they are also called Purchase returns.
Cash book - The cash book is used to record receipts and payments of cash. It works as a book of
original entry as well as a ledger account. The entries related to receipt and payment of cash are
first recorded in the cash book and then posted to the relevant ledger accounts. Moreover, a cash
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