Discuss the Process of Posting from a Revenue Journal to the Subsidiary

question 190

Essay

Discuss the process of posting from a revenue journal to the subsidiary ledger and to the general ledger.

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Definitions:

Savings

Money that is set aside or stored for future use or emergencies, rather than spent immediately.

Invested

The act of allocating money or capital to an endeavor with the expectation of obtaining an additional income or profit.

Annuity

An annuity is a financial product that pays out a fixed stream of payments to an individual, typically used as an income stream for retirees.

Payments

Transactions made by individuals or entities to fulfill obligations or purchase goods and services.