A record in which the effects of transactions are first recorded and from which transaction amounts are posted to the ledger is a(n):
A) Trial balance.
B) Balance column account.
C) Journal.
D) T-account.
E) Account.

Question

Quizplus · Accepted Answer

A journal is a record in which the effects of transactions are first recorded before being posted to the ledger. The trial balance is a list of all the accounts in the ledger with their respective debit or credit balances, used to ensure that debits equal credits in the ledger. A balance column account is a type of ledger account used to record the balance of a particular account, with separate columns for debit and credit amounts. T-accounts and accounts are individual ledger accounts used to record transactions and their balances. Therefore, the best choice for this question is C.

A Record in Which the Effects of Transactions Are First