Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 3 - The Accounting Information System - Questions - Page 137: 17

Answer

a) Do b) It records all the accounting transaction with full details in one place.

Work Step by Step

a) No, because the accounting transaction firstly recorded in the journal and then posted into ledger. b) Advantage of journal entries is that it records all the accounting transaction with full details in one place.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.