To find an explanation for a transaction, look in the:
A) income statement.
B) balance sheet.
C) journal.
D) trial balance.

Name: To find an explanation for a transaction, look in the: A) income statement. B) balance sheet. C) journal. D) trial balance.
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Quizplus · Accepted Answer

The journal is the correct place to look for an explanation of a transaction. It records every financial transaction of a business in chronological order, including detailed information such as date, nature, and purpose of the transaction.

To Find an Explanation for a Transaction, Look in The