The Posting References in the Following Revenue Journal Are Indicated

question 79

Essay

The posting references in the following revenue journal are indicated by letters.Identify each posting reference [
(a)through
(h)] as representing
(1)a posting to a general ledger account,
(2)a posting to a subsidiary ledger account,or
(3)that no posting is required.

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Definitions:

Inflation

The magnitude of growth in general service and product prices, causing a decrease in the ability to buy.

Overall Level

A general or comprehensive scope or scale, often referring to the magnitude or intensity of a phenomenon or activity.

Prices

The financial outlay necessary for acquiring a commodity, service, or asset.

U.S. Productivity

A measure of the efficiency of production in the United States, typically evaluated in terms of the output of goods and services per unit of labor input.