As the full-time bookkeeper, your job is to make sure all transactions are recorded properly. If there is an error, each correction needs the reason for the change and the effect on each account, whether it is an increase or decrease.

1. What are some examples of transactions that would need to be recorded or journalized?

2. Can you provide an example of a transaction and the journal entry from either Chapter 4 of our textbook or from your current employer?

3. Why is it important to accurately record the transaction you selected?