Briefly answer the following:1. Enumerate and explain the rules of debit and credit.2. Differentiate journalizing from posting.

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the rules of debit and credit

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter3: The General Journal And The General Ledger

Section: Chapter Questions

Problem 2QY: Transferring information from the journal to the ledger is called a. preparing the financial...

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Briefly answer the following:
1. Enumerate and explain the rules of debit and credit.
2. Differentiate journalizing from posting.

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Rules of debit and credit The following table summarizes the rules of debit and credit. For each of the items a through l, indicate whether the proper answer is a debit or a credit.