Asked by Emalie Saalsaa on Apr 24, 2024
Verified
The process of transferring general journal entry information to the ledger is called:
A) Double-entry accounting.
B) Posting.
C) Balancing an account.
D) Journalizing.
E) Not required unless debits do not equal credits.
General Journal
A comprehensive journal that records the initial data for all different types of financial transactions.
Ledger
An accounting book or computer file used for recording and totaling economic transactions measured in terms of a monetary unit, by account.
Posting
The process of recording amounts as debits or credits in the accounts of a company's general ledger.
- Comprehend the methodology of transferring entries from the general journal to the ledger accounts.
Verified Answer
JN
Jordan NewsomMay 02, 2024
Final Answer :
B
Explanation :
The process of transferring general journal entry information to the ledger is called posting. This involves taking the information from the journal and entering it into the appropriate account in the ledger, ensuring that debits and credits are properly recorded.
Learning Objectives
- Comprehend the methodology of transferring entries from the general journal to the ledger accounts.