The following discussion took place between Erin Carr, the office manager of Panda Data Company, and a
Question:
Mar: I’ve been thinking about our method of recording entries it seems that it’s inefficient.
Erin: In what way?
Mark: Well-correct me if I’m wrong-it seems like we have unnecessary steps in the process. We could easily develop a trial balance by posting our transactions directly into the ledger and bypassing the journal altogether. In this way, we could combine the recording and posting process into one step and save ourselves of time. What do you think?
Erin: We need to have a talk. What should Erin say to Mark?
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The journal is called the book of original entry It provides a timeordered history of the transactio...View the full answer
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Related Book For 
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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