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A ledger pertains to the principal book or electronic document that records and totals economic transaction. Transactions placed within the ledger are measured in monetary units of account by account type. 

The ledger also details debits and credits in disparate columns and specifies a beginning monetary balance and ending balance that an account has. 

Basically, the ledger contains bookkeeping entries for balance sheet and income statement transactions. Balance sheet ledgers comprise of asset ledgers that include cash or accounts receivable. Ledgers under the category of income statement, contain revenues and expenses.

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