The accounting ledger contains a listing of all general accounts in the accounting system’s chart of accounts.
A ledger represents the record-keeping system for a company’s financial data, with debit and credit account records validated by trial balances. Ledgers contain a record of each financial transaction that takes place during the life of an operating company and holds account information that is needed to prepare the company’s financial statements. Transaction data is segregated, by type, into Ledger Accounts for assets, liabilities, owners’ equity, revenues, and expenses.
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