Which of the following statements is true? 1) Journalizing consists of analyzing and recording transactions in T-accounts. 2) Preparing a post-closing trial balance helps to prove the accuracy of the adjusting and closing procedures. 3) The information on the work sheet can be used in place of preparing financial statements 4) By using a work sheet to prepare adjusting entries you need not post these entries to the ledger accounts. 2 15 5) All of these statements are true