Accountants first record transactions in a:
A)chart of accounts.
B)trial balance.
C)journal.
D)ledger.

Question

Quizplus · Accepted Answer

Accountants first record transactions in a journal. The journal serves as a chronological record of all financial transactions before they are transferred to the ledger for summarized reporting. The chart of accounts is a list of all accounts used by a company and is created after the journal entries have been made. The trial balance and ledger are created after the journal entries have been transferred to their respective accounts.

Accountants First Record Transactions in A