In double-entry bookkeeping,after gathering together and analyzing source documents and recording each financial transaction in a journal,a financial manager,bookkeeper,or accountant next
A) closes out the books.
B) posts transactions in a journal.
C) posts transactions in a ledger.
D) prepares a trial balance.
E) balances the accounting equation.

Question

Quizplus · Accepted Answer

After each transaction is recorded in a journal,the next step is to transfer that information from the journal to the ledger.

In Double-Entry Bookkeeping,after Gathering Together and Analyzing Source Documents and Recording