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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

Solutions

Chapter
Section
BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

What steps are followed in posting from the sales journal to the general ledger?

To determine

Indicate the steps followed in posting from the sales journal to the general ledger.

Explanation

Sales Journal

A journal is a book of original entry where all journal entries are recorded on the date of their occurrence in a chronological order.

Sales journal is one form of special journal book, which records sales transactions that are sold to customers on credit.

Steps in posting the sales journal to the general ledger:

In the sales journal:

Step 1: Calculate the total amount for both the columns and then verify the total of the debit column equals the total of the credit columns.

In the general ledger account:

Step 2: Enter the date of the transaction in the Date column...

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