Journalizing a transaction means:

Question

Quizplus · Accepted Answer

Journalizing a transaction means recording the transaction, including a brief explanation. This is the first step in the accounting process where transactions are recorded in the journal before being posted to the ledger. Option A is incorrect because it refers to calculating the balance which is done after posting to the ledger. Option B is incorrect because finding the account number in the chart of accounts is part of setting up the accounts, not journalizing transactions. Option D is incorrect because copying information from the journal to the ledger is done during the posting process.

Journalizing a Transaction Means