Part 1 This Week, we will focus on understanding the accounting/recording process. In our discussion you must first identify and discuss the steps in the recording process. Be sure to discuss what each step does and how it relates to the steps before and after it. Then, answer the following questions: should business transactions credits and debits be recorded directly into the ledger accounts? What are the advantages of recording in the journal before posting transactions into the ledger? Part 2 Discuss why closing entries are prepared at the end of the accounting period. How are the accounts affected? Post your response by Wednesday of Week 4 (5 p.m.), then respond to two other peers' posts by Sunday of Week 4 (5 p.m.). Responses (0) Type o response