The following is an alphabetical list of accounts and balances for the J. Nikko proprietorship at November 30, 2017:

Instructions
Prepare a trial balance at November 30, sorting each account into the debit or the credit column.
TAKING I T FURTHER
J. Nikko believes that accounting would be more efficient if transactions were recorded directly in the ledger accounts. Explain to him the advantages of first recording transactions in the journal, and then posting them to the ledger.

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Accounts Payable Accounts Receivable Notes Payable Prepaid Expenses Rent Expense Service Revenue Supplies Utilities Expense Interest Expense J. Nikko, Capital J. Nikko, Drawings