When Recording a Business Transaction into the Journal, Certain Steps

question 15

Multiple Choice

When recording a business transaction into the journal, certain steps are followed. Identify the statement below that is CORRECT regarding the journalizing process.

• A)All transactions are recorded first in the general ledger and then they are journalized in the journal.
• B)An explanation is indented and entered on the line underneath the last credit in the entry.
• C)All credited accounts are listed first and then all debited accounts are indented and listed on the next lines.
• D)No dates are used in the journal.

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