In the accounting cycle ________.
Understand the Problem
The question is asking about a specific step or concept in the accounting cycle, with multiple-choice options provided. The user needs to identify the correct statement that fits in the blank regarding the accounting cycle.
Answer
Journal entries get posted to the appropriate ledger accounts.
The final answer is: Journal entries get posted to the appropriate ledger accounts.
Answer for screen readers
The final answer is: Journal entries get posted to the appropriate ledger accounts.
More Information
In the accounting cycle, journal entries are recorded in a journal and then posted to the appropriate ledger accounts. This is a crucial step before preparing a trial balance.
Tips
A common mistake is confusing the order of steps, such as posting transactions before journalizing them.
Sources
- Accounting Cycle Definition: Timing and How It Works - Investopedia - investopedia.com
- The 8 Steps of the Accounting Cycle Explained - Tipalti - tipalti.com
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