Describe what each step includes, share tips on how to complete each step properly, and exchange observations on what the end product must include after the step has been completed.

Step 1. Transactions are analyzed and recorded in the Journal using journal entries.

Step 2. Transactions are posted to the Ledger. (The ledger may be illustrated using either the T account or 4-column ledger format)

Step 3. An Unadjusted Trial Balance is prepared.