The posting reference column in the general ledger is used to show the source journal for the transaction. Which of the following symbols is commonly used as a posting reference to refer to page 5 of the cash receipts journal?
A) CRJ5
B) 5CR
C) R5
D) C5R

Question

Quizplus · Accepted Answer

The commonly used convention is to use the abbreviation of the journal (CRJ for cash receipts journal) followed by the page number (5 in this case). Therefore, the correct posting reference would be CRJ5. The other options do not follow this convention and may cause confusion or errors in record keeping.

The Posting Reference Column in the General Ledger Is Used