Which of the following is always recorded in the general journal?
A) rendering services for cash
B) purchases of supplies on account
C) rendering services on account
D) closing entries

Question

Quizplus · Accepted Answer

Closing entries are always recorded in the general journal at the end of an accounting period to reset the balance of temporary accounts (revenue, expense, and dividend accounts) to zero and transfer their balances to the retained earnings account. Choices A, B, and C may be recorded in the general journal, but they do not necessarily have to be recorded there.

Which of the Following Is Always Recorded in the General