Copying data from the journal to the ledgerSelect one:a.Product costsb.Trial Balancec.Accounting Equationd.Posting

After a business transaction has been analysed and entered in the journal, the next step in the recording process is to transfer the information to: Group of answer choices the bank. the trial balance. ledger accounts. financial statements.

In last week's learning journal, we categorized transactions into various accounts, which is the initial step in preparing financial statements. In this week's learning journal, we will delve into the recording of those accounts in journals, T-accounts, and the trial balance, allowing for a better understanding of the process.For this week use the excel spreadsheet template to fill in your answers (the journal and general ledger entries).For this week's reflection task:Please read the transaction of FunSun. Co and use the template provided to:Pass the journal entries for transactions givenPrepare the various t-accountPrepare the trial balanceExplain the uses of journal and ledger accounts.Date  Transaction April 1: Commenced business with $35,000 of common stock for cash $35,000  April 2 Purchased Office supply for $ 1,100 on account April 5 Billed customers $ 10,000 on the account. April 12 Purchased a delivery van for $ 7,000 on loan. April15 Paid rent for $ 5,000. April 16 Paid Salaries to employees $4,000 April 17 Cash sales for $ 2,000 April 20 Paid insurance for one-year policy $1,800. April 20 Paid the loan on van $1,000 April 21 Collected $ 9,000 for the bill on April 5. April 25 Return office supply purchased on April 2 $ 100  April 27 Purchased additional furniture by paying cash for $ 2,000. April 29 Cash withdrawal for personal use $ 1,000 Additional entries: (a) Depreciation for the month of April on van 5% (b) Accrued but unpaid employee salaries were $500 (c) Earned but unbilled Revenue on April 30 was $600  (d) One-twelfth of the insurance expired (e) Paid Dividend $,1000 Submission InstructionsYour submission should follow the template provided to prepare:Journal entriest-accountTrial balanceExplain the use of journal and ledger using 50 -100 words.Use APA citations and references for any sources used in the essay.

Where is accounting data first entered?Multiple choice question.on a balance sheetin a ledgeron an accounting recordin a journal

A trial balance is also a tool in checking whether the journal entries are accurately done and posted in the ledger.Select one:TrueFalse

The process of transferring the journal entries to the ledger is called posting the accounts.Select one:TrueFalse