Asked by Judeline Adolphe on Jun 02, 2024

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Which of the following is always recorded in the general journal?

A) rendering services for cash
B) purchases of supplies on account
C) rendering services on account
D) closing entries

General Journal

A primary accounting record where all types of financial transactions are initially recorded using double-entry bookkeeping before posting to specific accounts in the ledger.

Closing Entries

Closing entries are journal entries made at the end of an accounting period to transfer temporary accounts to permanent accounts.

Rendering Services

The act of providing professional services or duties to a client or customer.

  • Differentiate between transactions that should be recorded in general and special journals.
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SS
Sunshine StateJun 06, 2024
Final Answer :
D
Explanation :
Closing entries are always recorded in the general journal at the end of an accounting period to reset the balance of temporary accounts (revenue, expense, and dividend accounts) to zero and transfer their balances to the retained earnings account. Choices A, B, and C may be recorded in the general journal, but they do not necessarily have to be recorded there.