The Account Number Is Recorded in the Post

question 31

True/False

The account number is recorded in the Post. Ref. column of the general journal when the transaction is first recorded in the journal.

---

Definitions:

Taxpayers

Individuals or entities that are obligated to pay taxes to a federal, state, or local government.

Employee Discounts

Reduced prices offered to workers of a company for its products or services.

Normal Selling Price

The usual cost at which goods or services are sold to the public, under regular business conditions without any discount or rebate.

Child Support

Financial payments made by a non-custodial parent to a custodial parent, guardian, or state to support the child’s well-being and living expenses.