If a company maintains two parallel ledgers, how many journal entries are required for a provision entry with different amounts for each ledger?

When a company maintains two parallel ledgers, each ledger may serve different purposes or be aligned with different accounting standards. In the scenario provided, if a provision entry requires different amounts in each ledger, it necessitates separate handling for each one to reflect the correct balance in both ledgers.

The correct approach is to post two different journal entries, each tailored to the specifications of the respective ledger. This ensures that each ledger accurately reflects the financial situation according to its unique requirements without mixing the amounts. This process maintains the integrity of financial reporting across diverse standards or business segments represented by the ledgers.

Using one journal entry with different amounts would result in inconsistencies and challenges in financial reporting and reconciliation. Similarly, posting a greater number than two entries, such as three, would be unnecessary and would complicate the accounting process without any benefit. Hence, the requirement of posting two distinct journal entries for individual ledgers is both efficient and compliant with best practices in financial accounting.