If a business uses special journals, which statements are incorrect regarding the general journal?

I. Credit transactions, apart from sales and purchases of inventory are recorded in the general journal

I. All transactions are initially recorded in the general journal

Ill. The general journal may be used to record closing

entries

IV. Correcting and adjusting entries are made in the general journal

V. When special journals are used, a general journal is not necessary

Select one:

O a. 1, 11, 111

O b. 111, IV, V O c. 11,V O d. II, IV O e. IV, V