The chart of accounts for the Miguel Company includes the following:
Page 3 of the journal contains the following transaction:

What posting references will be found in the journal entry?
A) 41,3
B) 3,11
C) 11,41
D) 11,3

Question

The chart of accounts for the Miguel Company includes the following: ​
 Page 3 of the journal contains the following transaction:
​
 What posting references will be found in the journal entry?
A) 41,3 
B) 3,11 
C) 11,41 
D) 11,3

Quizplus · Accepted Answer

The transaction will involve Accounts Payable and Purchases accounts which have posting references 41 and 3 respectively. Hence, the posting references found in the journal entry will be 11 (Accounts Payable) and 41 (Purchases). The correct choice is C, which includes both these posting references.

The Chart of Accounts for the Miguel Company Includes the Following