The __________ is where a transaction can first be found in the accounting records.
A) chart of accounts
B) income statement
C) balance sheet
D) journal

Question

Quizplus · Accepted Answer

The first place a transaction is recorded in the accounting records is in the journal. The chart of accounts is a list of accounts used by a company, the income statement shows revenue and expenses for a period of time, and the balance sheet shows a snapshot of a company's financial position at a specific point in time.

The __________ Is Where a Transaction Can First Be Found