The adjusting entries entered onto a work sheet must still be recorded in the general journal.

Question

Quizplus · Accepted Answer

Adjusting entries are made on a work sheet to update and correct the accounts before the financial statements are prepared. However, they must also be recorded in the general journal to update the accounts in the accounting system. This ensures that the adjusted balances are reflected in the financial statements and the ledger accounts. Therefore, the adjusting entries entered on a work sheet must still be recorded in the general journal.

The Adjusting Entries Entered onto a Work Sheet Must Still