When posting from the General Journal to the General Ledger to create an Audit Trail the procedure
Question:
When posting from the General Journal to the General Ledger to create an Audit Trail the procedure is done in the following order: _____ Enter the amount from the General Journal. If in the Debit column as a Debit amount in the Account and if in the Credit column as a Credit amount in the Account. _____ Locate the first entry that does not have a posting reference number in it. _____ Go to the next entry and repeat until complete. _____ Calculate the Balance of the Account. If there are more Debits than Credits the balance is a Debit and if there are more Credits than Debits the balance is a Credit. _____ In the General Ledger enter the Explanation Character for Character into the Account _____ Go back to the General Journal and in the Posting Reference column of the General Journal put the Account Number from the General Ledger that the entry was put into. _____ Check the first item in the Account Titles and Explanation column of the General Journal and find a matching Account Name in the General Ledger. _____ Use the General Journal abbreviation (GJ) and the page number of the General Journal as
Integrated Accounting
ISBN: 978-1285462721
8th edition
Authors: Dale A. Klooster, Warren Allen, Glenn Owen