Asked by
gebray yilma
on Nov 12, 2024Verified
The process of transferring the debits and credits from the journal entries to the accounts is known as posting.
Debits And Credits
Fundamental accounting concepts that are used in double-entry bookkeeping, where debits must equal credits in every transaction.
Journal Entries
Accounting records that document all financial transactions in the order they occur, ensuring accurate tracking of business operations.
Posting
The process of recording financial transactions in the ledger of an accounting system.
- Comprehend the process of journalizing and posting transactions to the ledger.
Verified Answer
VP
Learning Objectives
- Comprehend the process of journalizing and posting transactions to the ledger.