Journalizing refers to the process of recording financial transactions in a journal or a daybook. It involves recording every transaction in a chronological order as and when it occurs. The purpose of journalizing is to keep a record of all financial transactions in an organized manner, which can later be used to prepare financial statements.
Journalizing is the process of recording a business transaction in the accounting records. This activity only applies to the double-entry bookkeeping system. The steps involved in journalizing are noted below. Journalizing can result in entries to the general ledger or to subsidiary ledgers.
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Answer:
Journalizing refers to the process of recording financial transactions in a journal or a daybook. It involves recording every transaction in a chronological order as and when it occurs. The purpose of journalizing is to keep a record of all financial transactions in an organized manner, which can later be used to prepare financial statements.
Answer:
Explanation:
Journalizing is the process of recording a business transaction in the accounting records. This activity only applies to the double-entry bookkeeping system. The steps involved in journalizing are noted below. Journalizing can result in entries to the general ledger or to subsidiary ledgers.