Posting of Journal Entries Should Be Done in

question 58

Multiple Choice

Posting of journal entries should be done in

• A)account number order.
• B)alphabetical order.
• C)chronological order.
• D)dollar amount order.

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Definitions:

Compounded Monthly

A method of calculating interest where the earned interest is added to the principal so that the balance doesn't merely grow, it grows at an increasing rate.

Combined Equivalent

A combined measure or assessment that brings together several different factors or values into a single, comprehensive figure.

Scheduled Payments

Periodic payments made by a borrower to a lender under the terms of a loan.

Compounded Monthly

The process of applying interest to an initial sum and the accumulated interest over time on a monthly basis.