Book of accounts where balances are reported

Reference no: EM133359904

Question: The general journal is the book of original entry. The ledger is the book of accounts where balances are reported. Explain the four steps in posting from the journal to the ledger.

Posting from the journal to the ledger accounts involves four steps: 1. Enter the date of each transaction in the account. 2. Enter the amount of each transaction in the account. 3. Enter the journal page in the posting reference column of the account. 4. Enter the account number in the posting reference column of the journal.

Explain these steps

Reference no: EM133359904

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