All transactions related to specific accounts,such as cash or inventory,are summarized in a:
A)Journal
B)Ledger
C)Trial balance
D)Balance sheet

Question

Quizplus · Accepted Answer

Transactions related to specific accounts are recorded in the journal, but they are then transferred to the ledger, which is a summary of all the transactions for each account. The trial balance and balance sheet are both financial statements that are prepared using information from the ledger.

All Transactions Related to Specific Accounts,such as Cash or Inventory,are