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Type the correct answer in the box. Spell all words correctly. In which book of accounts do businesses record their daily financial transactions? Businesses record their daily financial transactions in a _____, also known as the businessperson's diary.

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Answer:

Journal.

Step-by-step explanation:

Businesses record their daily financial transactions in a journal, also known as the businessperson's diary.

A journal entry involves the process of keeping the records of business transactions made by an organization.

The journal entry is used by bookkeepers and accountants. Ideally, it is important that a journal has all of following informations; date, reference number, debit balance, credit balance and transaction description.

In Accounting, most businesses use a double-entry account system and as such, the total amount debited must equal the total amount credited in a journal entry.

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