Transactions are initially entered into a record called a journal.

Transactions

Economic activities or events that affect the financial position of a company and can be quantified in monetary terms.

Comprehend the segments and objectives entailed in entering transactions in journals and posting to accounts in accounting.

Verified Answer

Final Answer :

True

Explanation :

This is true. Transactions are recorded in a journal before being transferred to a ledger.

Learning Objectives

Comprehend the segments and objectives entailed in entering transactions in journals and posting to accounts in accounting.