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Question
The transferring of amount from the journal to the appropriate accounts in the ledger is called _________.
The transferring of amount from the journal to the appropriate accounts in the ledger is called _________.
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Solution
The correct option is D Posting
All journal entries must be transferred to a book to have the summary of each account. The book where these individual account are opened is called ledger. Process of transferring the entries from journal to ledger is called posting.
All journal entries must be transferred to a book to have the summary of each account. The book where these individual account are opened is called ledger. Process of transferring the entries from journal to ledger is called posting.
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