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 Form 4 Business Studies lessons: Source documents and books of original entry

What are the uses of a general journal

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Answer Text:
General journal (journal proper or journal):
-is a business book which is used to record all business transactions that cannot be recorded in other books of original entry.
Uses of a general journal are:
-to record the purchase of fixed assets on credit.
-to record sale of fixed assets on credit
- to record opening entries.
- to record closing entries.
-to write off bad debts.
- to correct errors
-to record issue of shares and debentures of companies.