journal entries and errors

Question 1

Define journal

Answer 1

The journal is a book of prime entry used to record transactions which cannot be recorded in any other book of prime entry

Question 2

Define suspense account

Answer 2

A suspense account is a temporary account opened in order to make the totals of a trial balance match

Question 3

Why are journal entries made

Answer 3

Journal entries are made to open the accounting records,to record the purchase and sale of non current assets,to record non regular transactions,and to correct errors