A __________ is a day-by-day, or chronological, record of transactions

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A journal is a day-by-day, or chronological, record of transactions. It is used to record all of the company's financial transactions in order of occurrence. The journal serves as a record of initial entry, which means that all transactions are first recorded in the journal before they are posted to the company's ledger. Choice A (Asset) is not a day-by-day record of transactions; it refers to an economic resource owned or controlled by a company. Choice C (Checkbook) is a record of bank transactions, not a record of all financial transactions. Choice D (Ledger) is not a day-by-day record of transactions; it is a summary of all transactions within a specified period, organized by account.

A __________ Is a Day-By-Day, or Chronological, Record of Transactions