Multiple Choice
Which of the following statements about a journal in accounting is correct?
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2. Transaction Analysis
Journal Entries: Debits and Credits
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Which of the following is NOT typically recorded in a general journal?
A
Routine sales transactions
B
Closing entries
C
Adjusting entries
D
Posting to ledger accounts
Verified step by step guidance1
Understand the purpose of a general journal: A general journal is used to record transactions in chronological order before they are posted to the ledger accounts. It typically includes entries that are not repetitive or routine.
Identify the types of entries typically recorded in a general journal: These include adjusting entries, closing entries, and other non-routine transactions that require detailed explanations.
Recognize that routine sales transactions are usually recorded in a specialized journal, such as a sales journal, because they occur frequently and do not require detailed explanations in the general journal.
Understand that posting to ledger accounts is not recorded in the general journal. Posting is a separate process where transactions from the journal are transferred to the ledger accounts.
Conclude that the correct answer is 'Posting to ledger accounts,' as it is a process rather than a type of transaction recorded in the general journal.
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