Which statements about journal entries and trial balances are correct?
Understand the Problem
The question presents multiple statements about accounting procedures, specifically focusing on journal entries, transaction posting, and the preparation of a trial balance. It is likely asking which of the statements is correct or if multiple statements are correct.
Answer
Both a and c are correct.
The final answer is d. Both a and c are correct.
Answer for screen readers
The final answer is d. Both a and c are correct.
More Information
In accounting, journal entries are first recorded, then posted to ledger accounts. After posting, a trial balance is prepared to ensure debits equal credits.
Tips
A common mistake is misunderstanding the sequence of steps in the accounting cycle.
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