Asked by Judeline Adolphe on Jun 02, 2024
Verified
Which of the following is always recorded in the general journal?
A) rendering services for cash
B) purchases of supplies on account
C) rendering services on account
D) closing entries
General Journal
A primary accounting record where all types of financial transactions are initially recorded using double-entry bookkeeping before posting to specific accounts in the ledger.
Closing Entries
Closing entries are journal entries made at the end of an accounting period to transfer temporary accounts to permanent accounts.
Rendering Services
The act of providing professional services or duties to a client or customer.
- Differentiate between transactions that should be recorded in general and special journals.
Verified Answer
Learning Objectives
- Differentiate between transactions that should be recorded in general and special journals.
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