When recording transactions in T-account format,we must add an additionalstep to the transactional analysis process.Which of the following is the additional step?
A) Determine what accounts and elements in the equation are affected by the transaction.
B) Determine if the affected accounts are increased or decreased by the transaction.
C) We must have equal debits and credits once the entry is recorded in the accounts.
D) The accounting equation must remain in balance after each transaction.
Correct Answer:
Verified
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