LEDGER For Accounting students

does the journal replace the need For a Ledger?
No the Journal does not replace the ledger.The journal provides a complete listing of the daily transactions of a business.But It does not provide information about a specific account in one place . To know how much cash balance we have, for example the accounting clerk would in one place. To know How much cash balane we have for example the accounting clerk would have to check all the journal entries in which cash involved and this is very labourious job becuse there are hundreds or even thousand of a cash transactions we recorded on different pages of journal.To avoid the diffiulty the debits and credits of journalised transactions are transferred to Ledger accounts.Thus All the changes For a single account are located in one place in a ledger account.This makes it easy to determine the curent balance of any account.
The book in which accounts are maintained , is called Ledger.Generally , one account is opened on each page of this book,but if Transactions relations to a particullar account are numerous ,
it mat extend to more than one page.All transactions relationg to a account are recorded therein chronologically .from journal each transaction is posted to at least two concern account---Debit side of one account , and credit side of another account.Remember That if there two accounts involved in a journal entry.It will be posted to three different accounts in the ledger.This process of transferring information --debit and credit.---From journal to ledger is known as posting.The goal of all transactions is ledger