day book

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A specialized book of prime entry recording specific transactions. For example, the sales day book records invoices for sales, the purchase day book records invoices received from suppliers. Day-book entries are transferred to memorandum ledgers, such as the debtors' ledger and the creditors' ledger, while totals of entries are transferred to the nominal ledger control accounts, such as the debtors' ledger control account and the creditors' ledger control account.

Subjects: Business and Management.

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