Transactions are first recorded in which book/account

Q: Describe an account and its use in recording transactions.

A: Accounting reports are papers and books used to manage records.

Q: How do the opening balances and ending balances look like in a general ledger? Please provide an…

A: Basically 'General Ledger' is a summary of various number of business transactions. All transactions…

Q: Can you provide steps in completing a check register for accounting?

A: Check register refers to the checkbook register which usually records the financial transaction done…

Q: How to journaalize entries from accounting for purchase with frieght transaction?

A: A journal entry is the first step to recording any transaction of monetary nature. Journalizing is…

Q: How to close the Revenue accounts journal entry

A: Closing entries are used to transfer the balance from a temporary account to a permanent account. We…

Q: give the journal entry received a promissory note in payment of an account.

A: The journal entry keeps the records of day to day transactions of the business as debit one account…

Q: The general ledger or subsidiary ledger should be indicated for each account

A: This question deals with the general ledger or subsidiary ledger should be indicated for each…

Q: n which journal is the receipt of a promissory note from a customer on account recorded ? a.…

A: Revenue journal is used for recording sales income. When sales are made Revenue a/c is credited and…

Q: How to journalize entries from accounting for purchase with frieght transaction?

A: On any purchase if freight charges paid it is called freight in charges and it is part of cost of…

Q: Transactions for the Blue Spruce Company for the month of June are presented as follows. June 1 2 3…

A: Journal entries are the primary reporting of the business transactions in the books of accounts.…

Q: A summarized statement of transactions relating to a particular person, item expense or income. a.…

A: Solution:   A summarized statement of transactions relating to a particular person, item expense or…

Q: rice of the common stock was $42 per s tion of the stock options, exercise of th 221. 2022 and 2023…

A: journal entries to record issuance of the stock options, termination of the stock options, exercise…

Q: Post the Journal Entries to the General Ledger and Subsidiary Ledgers. Amounts to the Accounts…

A: A general ledger is an account in which the total of all accounts are posted and the total of this…

Q: What does a ledger show? What’s the difference between a ledger and the chart of accounts?

A:

Q: posting from a sales journal to an accounts receivable ledger?

A: Sales journal is also referred as sales book or sales day book.  All the credit sales are recorded…

Q: Which is not a book reconciling items? A. Credit Memo B. NFS Checks C. Debit Memo D. Outstanding…

A: The bank reconciliation statement is prepared to to record and equate the book balance and bank…

Q: How a General Ledger Works With Double-Entry Accounting

A: The Double Entry Accounting basically consists of a cycle that starts with recording and ends till…

Q: Which of the following types of transactions can be uploaded into QBO using the Receipt action.…

A: QBO : It stands for QuickBook Online, an online platform for recording the business transactions.…

Q: Describe a ledger and a chart of accounts

A: T-account: The condensed form of a ledger is referred to as T-account. The left-hand side of this…

Q: What is an account and how is it related to the ledger?

A: Accounting is the process of identifying, recording, classifying and summarising accounting…

Q: The General Ledger Question: What does the general ledger debit/credit account number mean? It is…

A: The general ledger can be defined as the way of recording the company's total financial assets. The…

Q: How many account management in accounts

A: The accounting process includes the bookkeeping process which involves the journal entry of the…

Q: Determining the effect of a transaction on the accounts is a desired outcome of which step of the…

A: Journal entries :we need to record the journal entries fro the transactions and events happened…

Q: indicate in which journal the following transactions are most likely to be recorded. 1. purchased…

A: Definition: Journal entry: Journal entry is a set of economic events that can be measured in…

Q: How do you know which account debits and credits go in?  How do you log into the general journal?…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Record a transaction money charged on a account

A: A transaction is the amount of value for a product or service. Regardless of when money is received…

Q: A debit to an expense account O directly affects the Owner's Drawings account. O decreases owner's…

A: In accounting, expenses are the money/cost incurred by a firm to generate revenue. In other words,…

Q: the entry to record the purchase of supplies on account includes a credit to what?

A: Journal entries are prepared to record the financial and non-financial transactions of the business.

Q: Magical Manufacturing Company purchased land, a building, and some vehicles on January 7, 2021, for…

A: In case of assets purchased together i.e. multiple assets at a single price, then cost of each asset…

Q: What columns are included in a typical ledger format?

A: Ledger indicates the posting of entries from the journals in their respective categorized accounts…

Q: is the most common form of a transaction acco

A: A transaction account is a day-to-day account into which you can deposit your wages and other…

Q: Sunland Company has the following portfolio of investment securities at September 30, 2025, its most…

A: A journal entry is the act of recording any transaction, whether one that is economic or not. An…

Q: Discuss the relationship between the balance in the accounts payable general ledger control account…

A: Definition:   General ledger: General ledger is a record of all accounts of assets, liabilities, and…

Q: How the GL accounts are arranged? O alphabetically arranged according to chart of accounts…

A:

Q: Should a transaction be first recorded in a journal or ledger? Why?

A: Transaction: In business, a transaction is an agreement between a buyer and a seller to exchange an…

Q: It is the process of transferring the entries recorded in the journal to the respective accounts…

A: After journalizing, all the transactions entries are posted into the respective general ledger…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.