A transaction is first recorded in which of the following accounting records?
A)Trial balance.
B)Ledger.
C)General journal.
D)Balance sheet.

Question

Quizplus · Accepted Answer

The first recording of a transaction is usually done in the general journal, where the details of the transaction are entered in chronological order. The other options listed are not the first place a transaction would be recorded. The trial balance is a summary of account balances used for verifying the accuracy of the entries made in the ledger, while the ledger is a collection of accounts used to record transactions after they have been entered in the general journal. The balance sheet is a financial statement that reports a company's assets, liabilities, and equity at a specific point in time and does not directly record transactions.

A Transaction Is First Recorded in Which of the Following