Journalizing Does NOT Include

question 51

Multiple Choice

Journalizing does NOT include

• A) debiting account(s)that are affected.
• B) crediting account(s)that are affected.
• C) posting the debits and credits to the accounts.
• D) entering the date.

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Definitions:

Net Proceeds

The amount received by the seller after all costs and expenses have been deducted from the gross proceeds of a sale.

Office Equipment

Items used by a company to facilitate its operations and administrative tasks, such as computers, printers, and desks.

Commission

A fee paid for services, usually a percentage of the amount involved in a transaction or sale.

Normal Sales

Sales transactions that occur under regular business conditions, without special circumstances or discounts.