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: Which of the following documents will only be used for internal purposes? Deposit Slip Bill of…

A: Question-     WHICH OF THE FOLLOWING DOCUMENT WILL  BE USED FOR INTERNAL PURPOSE -   - PURHCASE…

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: When is the general journal used in a manual accounting information system? Provide some examples of…

A: Accounting information system collects, records, stores and processes accounting data to produce…

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: What is the name of the document used for recording credit sales

A: Credit sales means when goods and services are being sold to customers on credit basis and customers…

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: If a journal entry includes a debit or credit to the Cash account, it is most likely which of the…

A: Answer:  If a journal entry includes a debit or credit to the Cash account, it is most likely an…

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: Describe accounts receivable and how they occur and are recorded.

A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…

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: Where are transactions initially recorded?

A: The primary point where the financial transaction, which is initiated or effected by entity during a…

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: Sales made to person on credit should be credited to which of following ledger accounts

A: Accounting is essential to operating a company since it allows businesses to track income and…

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: why is a note receivable moved to accounts receivable prior to being written up and sent to…

A: Notes receivable indicates the promissory notes issued by the client for making due payment on a…

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: How to write a ledger

A: An accounting ledger is a bookkeeping account or record that keeps track of activities on the…

Q: what is procedure to posting account receivable ledger and inventory system . Explain with entry

A: Accounts receivable ledger shows the balances of the debtors to whom the stocks were Sold on credit.…

Q: The Sum of all the accounts in the accounts receivable subsidiary ledger should?

A: Accounts Receivable means amount due from customers on account of credit sales.  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.