Transactions are recorded in either a journal or a ledger, but not in both.

Name: Transactions are recorded in either a journal or a ledger, but not in both.
Brand: Quizplus
Rating: 4.9 (30 reviews)

Question

Quizplus · Accepted Answer

Transactions are initially recorded in a journal and then posted to the corresponding accounts in the ledger. Both the journal and the ledger are essential accounting tools used in the recording, classification, and summarization of financial transactions.

Transactions Are Recorded in Either a Journal or a Ledger