Which statement about the journal is NOT true?
A)The journal lists transactions in chronological order.
B)The journal entry lists debits before credits.
C)The journal entry shows a complete transaction in one place.
D)The journal entry shows the balance in each account.

Question

Quizplus · Accepted Answer

The journal entry typically does not show the balance in each account. The purpose of the journal is to record each transaction as it occurs, not to show the balance of each account. Balance information is typically found in the ledger.

Which Statement About the Journal Is NOT True