A column in journals and ledger accounts that is used to cross reference journal and ledger entries is the:
A) Debit column.
B) Credit column.
C) Account balance column.
D) Description column.
E) Posting reference column.

Question

Quizplus · Accepted Answer

The posting reference column is used to cross reference journal and ledger entries by indicating the journal entry number or other identifying information for the corresponding transaction. This allows for easy tracing and reconciliation of transactions between the journal and ledger accounts. The debit and credit columns record the monetary values of transactions, while the account balance column shows the running balance of each account. The description column is used to provide a brief explanation or note about each transaction.

A Column in Journals and Ledger Accounts That Is Used