The first step toward preparing financial statements-after recording journal entries-is to prepare a trial balance.

Name: The first step toward preparing financial statements-after recording journal entries-is to prepare a trial balance.
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To help prepare financial statements and locate errors that may have been made in the recording or posting processes, a trial balance is prepared. The trial balance is a columnar listing of each ledger account, together with its balance.

The First Step Toward Preparing Financial Statements-After Recording Journal Entries-Is