In Posting the Total of the Cash Column in a Cash

question 17

Multiple Choice

In posting the total of the cash column in a cash receipts journal,the entry that would be made is:

• A) Dr Cash.
• B) Cr Cash.
• C) Dr each of the specific accounts that comprise the total.
• D) Cr each of the specific accounts that comprise the total.

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Definitions:

Loss Accounts

Financial accounts within a company's books that represent expenses exceeding incomes, leading to a net loss.

Year-End

The end of an accounting period, typically culminating in the closing of books and preparation of financial statements.

Deferral

An accounting principle where revenue or expenses are recognized at a later date than when they were initially incurred.