A friend, who is just starting her own business, sees no use in having a journal. She tells you that she plans on recording her business transactions directly into the general ledger as they occur. She tells you that the transactions are going to end up in the ledger anyway. She explains that she is simply eliminating the extra step of creating a journal and then having to transfer the information to the ledger. Explain to her why what she is suggesting is not an acceptable practice.

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The journal offers several advantages that make it a necessary part of the accounting ... View the full answer