Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The general journal is the book of original entry. The ledger is the book of accounts wherebalances are reported. Explain the four steps in posting
The general journal is the book of original entry. The ledger is the book of accounts wherebalances are reported. Explain the four steps in posting from the journalto the ledger.
Posting from the journal to the ledger accounts involves four steps: 1. Enter the date of each transaction in the account. 2. Enter the amount of each transaction in the account. 3. Enter the journal page in the posting reference column of the account. 4. Enter the account number in the posting reference column of the journal.
Explain these steps
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started