Answer to Question #207033 in Accounting for dan

Question

Which one of the following statements correctly describes the purpose of the Advocates journal? 

Answer 1

Solution:

The purpose of the Advocates journal is to record all items regarding claims for services rendered by advocates.

The advocate’s journals are completed from statements received from the advocates for services rendered to the clients of the law firm. The individual clients are debited in the client’s ledger with the money claimed by the advocate. The total debits are posted to the debit side of the client control account in the general ledger and the advocate account is credited since the advocate is regarded as the creditor of the law firm.