Question:Which statement is incorrect regarding the general journal? 

A Only transactions that cannot be entered in a special journal are recorded in the general journal. 

B Dual postings are always required in the general journal. 

C The general journal may be used to record acceptance of a note receivable in payment of an account receivable. 

D Correcting, adjusting and closing entries are made in the general journal. 

+ Answer
+ Report
Total Preview: 2234

Copyright © 2024. Powered by Intellect Software Ltd