The First Step in Recording a Transaction in the Journal

question 125

Multiple Choice

The first step in recording a transaction in the journal is:

• A)determining whether each account is increased or decreased by the transaction.
• B)copying the information from the journal to the ledger.
• C)entering the debit side of the journal entry on the left margin and the credit side is indented to the right.
• D)specifying each account affected by the transaction and classifying the account by type.