Asked by
Ashley Coplan
on Oct 28, 2024
Verified
The recording of a journal entry precedes the posting to the general ledger.
General Ledger
The master set of accounts that summarizes all transactions occurring within an entity, serving as the main accounting record.
Journal Entry
A record in accounting that notes the details of a financial transaction as it happens.
- Understand the sequence and relationship between journal entries and the posting process in the general ledger.
Verified Answer
DS
Learning Objectives
- Understand the sequence and relationship between journal entries and the posting process in the general ledger.