Please choose any ONE of the questions below from this unit and write at least a 2 paragraph journal entry that reflects your understanding of this topic.

What is the difference between a journal and a ledger? How are journals and ledgers incorporated into the accounting cycle?

What are two major forms of debt financing? Describe and differentiate between the two types.

Explain the major advantages and disadvantages of issuing stock as a source of long-term financing.

Describe and compare the three major types of organizations that make up the U.S. banking system: commercial banks, savings and loan associations, and credit unions.