Entering Transactions into the Journal Is Called Posting

question 72

True/False

Entering transactions into the journal is called posting.

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Definitions:

Bond's Discount

The difference between the face value of a bond and its selling price when sold for less than its face value.

Amortized

The gradual reduction of a debt over a period of time by making regular payments of interest and principal sufficient to repay the loan by maturity.

Straight-Line Method

Straight-Line Method is a form of calculating depreciation or amortization by evenly spreading the cost of an asset over its useful life.

Amortization of Bonds

The gradual reduction of the discount on bonds payable or the premium on bonds receivable over the life of the bonds.