Refer to Exhibit 7-4 on shown below. Which steps are automatic in a computerized accounting system as compared to a manual accounting system?
In Exhibit 7-4

Computentzed systems post and process data very quickly and data are can block Journal entries that are out of balance until the error is corrected or display a reminder If an entry seems unusual. Financlal statements and speclal reports can be generated quickly whenever they are needed. Manual systems may be easler to understand. The trall from Journal to ledger to financial statements Is easy to see and follow compared to computerized systems, where much of the processing Is done "behind the scenes Start with the account balances in the ledger at the beginning of the period COMPUTERIZED SYSTEM MANUAL SYSTEM 1& 2 1&2 Analyze and classify business transactions by type. Access appropriate menus for data entry Analyze and classify business transactions by type. Journalize transactions in special journals or the general journal Computer automatically posts transactions as a batch or when entered online. 3 Post journal entries to the ledger accounts. 4 4 The unadjusted balances are generated immediately after each posting. The trial balance, if needed, can be accessed as a report. Compute the unadjusted balance in each account at the end of the period. Enter the trial balance on the worksheet and complete. (optional) 5.6,&7 Enter and post adjusting entries. Print 5.6.&7 Journalize and post the adjusting the financial statements. entries. Prepare the financial 8&9 Run automatic closing procedures after 8&9 backing up the period's accounting records. The next period's opening balances are created automatically as a result of closing. Journalize and post the closing entries. Prepare the post-closing trial balance. This trial balance becomes Step 1 for the next period