Please reply to the following posts with a short response of your thoughts and option on their post.

Post #1

The journal is also known as the book of original entry. It is where a business transaction is recorded when it first happens. The ledgeris also known as the book of second entry or the principal book of accounts. The ledger contains the chart of accounts, which is the list of all names andaccountnumbers in the ledger.

The main purpose of maintaining the transactions in journal and the ledger is to record and track uncommon transactions. Putting all of the transactions in both journal and ledger also helps you to capture both the debit and the credit sides of transactions. It keeps you out of missing something. A transaction should be recorded first in a journalbecause journal provides complete details of a transaction in one entry.

Post #2

The journal is a "record in which transaction are entered before they are posted to ledger accounts; also called book of original entry" (Wild et al, 2021). The journal is where all transactions are recorded in date order and with detail, regardless of the account type. The ledger or general ledger is a "record containing all accounts (with amounts) for a business" (Wild et al, 2021). The ledger is the permanent and final book and is used as the analytical record. That is why before running any type of financial statements you should ensure that all entries have been posted to the ledger so that the most current account balances are reflected.

A transaction should be recorded first in a journal and then posted to the general ledger. This is because the journal has detailed information of the transaction in one entry. Also, the journal has compiled the information and work needed to complete the posting to the ledger.