When journalizing and posting transactions in the books:
A) the rules of debit and credit are followed to increase or decrease each account.
B) the credit side of the transaction is entered on the left margin.
C) it is not necessary to use both the journal and the ledger.
D) debits in the journal can be posted as credits in the ledger.

Question

Quizplus · Accepted Answer

The rules of debit and credit must be followed to increase or decrease each account. Debit entries are entered on the left side, and credit entries are entered on the right side of the account. Using both the journal and the ledger is essential to maintain accurate records, and debits in the journal must be posted as debits in the ledger.

When Journalizing and Posting Transactions in the Books