What are ledger and double entries?

(A) Ledger

1. T-Form or Cash book
2. Vertical form = | Debtors Ledger (DL), Sale Ledger (SL), Account Receivable (AR)--> Customer owe money | Creditors Ledger (CL), Purchase Ledger (PL), Account Payable (AP)--> You owe money from supplier | General Ledger (GL), Nominal Ledger (NL)--> Record impersonal account e.g equipment or unpaid | Petty Cash book --> Pay small figure amount | General Journal (GJ), Journal Entries (JE)--> Do correction, adjustment of error, exchange, contra |
3. Using Ledger = | Debit (1. In 2. Received), Credit (1. Out (stock) 2. Given (donation) 3. Payment 4. Sold 5. Transferred 6. Loss (Damaged goods, stolen or destroy in fire) | Asset (debit) | Liabilities (credit)

(B) Double Entries

1. Opening two ledger
2. Show item (to show that your company have money e.g Cash Account, Fixed Asset Account, Debtors, Creditors)
3. First ledger must be debit, then second ledger must be credit