The book in which the transaction is recorded for the first time is called..............

Journal

The correct answer is option 1- Journal.

Journal is the basic book of original entry. In this book, transactions are recorded in the chronological order, as and when they take place. Afterwards, transactions from this book are posted to the respective accounts. Each transaction is separately recorded after determining the particular account to be debited or credited. The journal entry is the basic record of a business transaction. It may be simple or compound.