Question
Please help me answer 2 questions 1. A general journal provides a place for recording all of the following except : Multiple Choice The balance
Please help me answer 2 questions
1. A general journal provides a place for recording all of the following except:
Multiple Choice
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The balance in each account.
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The transaction date.
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An explanation of the transaction.
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The amount of each debit and credit.
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The names of the accounts involved
2. A double-entry accounting system is an accounting system:
Multiple Choice
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That records each transaction twice.
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That allows total debits to be greater than total credits.
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In which each transaction affects and is recorded in two or more accounts but that could include two debits and no credits.
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That allows total credits to be greater than total debits.
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That records the effect of each transaction in at least two accounts with equal debits and credits.
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