A business's general journal provides a place for recording all of the following except:
A) The names of the accounts involved.
B) An explanation of the transaction.
C) The amount of each debit and credit.
D) The balance in each account.
E) The transaction date.

Question

Quizplus · Accepted Answer

A general journal does not typically include the balance in each account, as it is used for recording individual transactions as they occur. The balances of accounts are typically found in the general ledger, which is a separate accounting record that summarizes all of the transactions recorded in the general journal for each account.

A Business's General Journal Provides a Place for Recording All