In a cash receipt journal, the sales credit column is posted to the Sales Revenue account in the general ledger. This entry reflects the revenue earned from sales transactions. Additionally, the corresponding debit entries, typically recorded in cash or accounts receivable, are posted to their respective accounts. This process helps maintain accurate financial records by tracking cash inflows and sales activity.
accounts payable
credit
false
accounts payable
In a journal, typically, the column totals for the debits and credits are posted to the respective accounts in the general ledger. This includes the totals for specific accounts such as cash, accounts receivable, accounts payable, and other relevant categories. The individual entries may also be posted based on the nature of the transaction, but the column totals provide a summarized amount for easier tracking and reporting.
accounts payable
credit
These numbers are important because they verify that the information in that journal column has been posted to the corresponding ledger account.
These numbers are important because they verify that the information in that journal column has been posted to the corresponding ledger account.
These numbers are important because they verify that the information in that journal column has been posted to the corresponding ledger account.
false
accounts payable
In a journal, typically, the column totals for the debits and credits are posted to the respective accounts in the general ledger. This includes the totals for specific accounts such as cash, accounts receivable, accounts payable, and other relevant categories. The individual entries may also be posted based on the nature of the transaction, but the column totals provide a summarized amount for easier tracking and reporting.
True. The individual entries are what get posted to their respective accounts, not the total.
The "Post Reference" or PR is used ona Ledger to lead you back to the original transaction by identifying the Journal and the page in the Journal. Example - GJ1 = General Journal, page 1. On a Journal the PR can be used to identify the account number used from the chart of accounts
cial journal
no