-What does "B" represent on the diagram?
Definitions:
General Ledger
A complete record of all financial transactions over the life of a company, serving as the foundation of the financial statements.
Cross-footed
A term used in accounting to describe the process of checking the accuracy of figures by verifying the sums across different columns on a financial document.
Sales Journal
A specialized journal used to record all sales of merchandise on credit.
Daily Posting
The process of recording and updating financial transactions in the books of accounts on a daily basis.
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