The usual sequence of steps in the recording process is to analyze each transaction enter the transaction in the
A) journal and transfer the information to the ledger accounts.
B) ledger and transfer the information to the journal.
C) book of accounts and transfer the information to the journal.
D) book of original entry and transfer the information to the journal.

Question

Quizplus · Accepted Answer

The correct sequence in the recording process is to first analyze each transaction, then enter the transaction in the journal (also known as the book of original entry), and finally transfer the information to the ledger accounts. The ledger accounts compile all transactions related to a specific account in one place.

The Usual Sequence of Steps in the Recording Process Is