Which of the following is the order of steps to journalize an entry?
A) Identify each account affected → Determine increase or decrease in each account → Record the transaction
B) Identify each account affected → Record the transaction → Determine increase or decrease in each account
C) Record the transaction → Identify each account affected → Determine increase or decrease in each account
D) Determine increase or decrease in each account → Identify each account affected → Record the transaction
Correct Answer:
Verified
Q54: Which of the following statements is true
Q58: Which of the following accounts decreases with
Q60: Which of the following accounts increases with
Q66: Sandra invests $40,000 in her new business
Q68: A business purchases equipment for $8,000 cash.
Q92: Source documents provide the evidence and data
Q101: Posting a transaction means _.
A) calculating the
Q103: After initially recording a transaction,the data is
Q117: Debits in the journal are always posted
Q118: Journalizing a transaction involves _.
A) calculating the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents