An organisation may choose to buy its own stock occasionally. Treasury stock is the name given to these shares.
A journal entry is used to record a business transaction in the company's accounting records. The main ledger is where journal entries are frequently made, however they can alternatively be created in a subsidiary ledger and then rolled forward into the general ledger after being summarised.
A credit entry reflects a value transfer from the account, whereas a debit entry represents a transfer of value to the account. Money is transferred from credited to debited accounts as part of every transaction.
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