what are the advantages of first recording transactions in the journal and then posting to the ledger? should business transaction debit and credits be recorded directly in the ledger accounts

Brief Exer (b) What are the advantages of first recording tra actions in the journal and then posting to the ledger? 15. The account number is entered as the last step in posting the amounts from the journal to the ledger What is the advantage of this step? 16. Journalize the following business transactions. (a) Oing Wei invests $9,000 cash in the business b) Insurance of $800 is paid for the year (c) Supplies of $2,000 are purchased on account. (d) Cash of $7,500 is received for services performed. 7. (a) What is a ledger? (b) What is a chart of accounts and why is it important? 8. What is a trial balance and what are its purposes? .Victor Grimm is confused about how accounting information flows through the accounting system. He believes the flow of information is as follows. (a) Debits and credits posted to the ledger (b) Business transaction occurs. (c) Information entered in the journal. (d) Financial statements are prepared (e) Trial balance is prepared Is Victor correct? If not, indicate to Victor the proper flow of the information. Two students are discussing the use of a trial balance. They wonder whether the following errors, each con- sidered separately, would prevent the trial balance from balancing