Transactions must first be recorded in the general journal before they can be entered in specialized journals.
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Q12: When a sale for $1,350 takes place
Q13: The principal ledger that contains all the
Q14: Accounting systems evolve through a three-step process:
Q15: Most accounting systems evolve as the business
Q16: The customers subsidiary ledger is controlled by
Q18: The methods and procedures for collecting, classifying,
Q19: An account for each supplier of merchandise
Q20: A control account is used to record
Q21: A cash refund paid to a customer
Q22: The customers ledger and the creditors ledger
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