Which of the following is the order of steps to journalize an entry? O A. Record the transaction Identify the accounts and the account type Decide whether each account increases or decreases, then apply the rules of debits and credits O B. Decide whether each account increases or decreases, then apply the rules of debits and credits Identify the accounts and the account type Record the transaction OC. Identify the accounts and the account type - Decide whether each account increases or decreases, then apply the rules of debits and credits - Record the transaction O D. Identify the accounts and the account type - Record the transaction - Decide whether each account increases or decreases, then apply the rules of debits and credits

Which of the following is the order of steps to journalize an entry? O A. Record the transaction Identify the accounts and the account type Decide whether each account increases or decreases, then apply the rules of debits and credits O B. Decide whether each account increases or decreases, then apply the rules of debits and credits Identify the accounts and the account type Record the transaction OC. Identify the accounts and the account type - Decide whether each account increases or decreases, then apply the rules of debits and credits - Record the transaction O D. Identify the accounts and the account type - Record the transaction - Decide whether each account increases or decreases, then apply the rules of debits and credits

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Which of the following is the order of steps to journalize an entry?
O A. Record the transaction → Identify the accounts and the account type → Decide whether each account increases or decreases, then apply the rules of debits and credits
O B. Decide whether each account increases or decreases, then apply the rules of debits and credits → Identify the accounts and the account type Record the transaction
OC. Identify the accounts and the account type → Decide whether each account increases or decreases, then apply the rules of debits and credits → Record the transaction
O D. Identify the accounts and the account type → Record the transaction Decide whether each account increases or decreases, then apply the rules of debits and credits

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