The fourth step in recording a transaction in the general journal is to record the:
A)explanation of the entry.
B)account(s)to be credited and the amount(s).
C)date of the entry.
D)account(s)to be debited and the amount(s).

Question

Quizplus · Accepted Answer

The fourth step in recording a transaction in the general journal is to provide an explanation of the entry to ensure that the nature of the transaction is clear and understandable. This is important for the purpose of analyzing financial statements and for auditing purposes.

The Fourth Step in Recording a Transaction in the General