Accountants first record transactions in the:

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Accountants first record transactions in the journal. The journal is where transactions are recorded chronologically as they occur, including the date, the accounts involved, and the amounts. The information from the journal is then transferred to the ledger, where individual account balances are maintained. The trial balance is a summary of all accounts and their balances at a specific point in time, created after transactions have been recorded in the journal and ledger. The chart of accounts is a list of all accounts used by a company, but it is not the first place where transactions are recorded.

Accountants First Record Transactions in The