Introduction
1. The Books Of Original Entry comprises General Journals, Special Journals, Cash Books, and Retail Cash Books.
2. Business transactions are divided into cash transactions and credit transactions.
3. Every transaction occurring must be recorded in the Books Of Original Entry before posting to the ledger at the end of the month.
4. The ledger can be divided into:
| (a) Sales Ledger/Debtors | All Debtors Trade Account |
| (b) Purchase Ledger/Creditors | All Creditors Trade Account |
| (c) General Ledger | i. Asset Account & Liability ii. Revenue & Expenses Account iii. Takeout Account iv. Capital Account v. Return Account vi. Asset Debtors Account vii. Asset Creditors Account |