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Ledger is one of the most important documents of accounting. It is the main accounting record for a business. This record makes use of the double entry bookkeeping.
It is basically a collection of a group of accounts that supports all the items which are shown in the major financial statements like Balance sheet etc. All the accounts are grouped in seven basic categories which are:
Assets, liabilities, Owner's equity, Revenue, Expense, Gains and losses.
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