The following discussion took place between Tony Cork, the office manager of Hallmark Data Company, and a
Question:
Cassie: I’ve been thinking about our method of recording entries. It seems that it’s inefficient.
Tony: In what way?
Cassie: Well—correct me if I’m wrong—it seems like we have unnecessary steps in the process. We could easily develop a trial balance by posting our transactions directly into the ledger and bypassing the journal altogether. In this way, we could combine the recording and posting process into one step and save ourselves a lot of time. What do you think?
Tony: We need to have a talk.
What should Tony say to Cassie?
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The journal is called the book of original entry It provides a timeordered history of the transactio...View the full answer
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Related Book For 
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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