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Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159 Exercise 51
Record transactions
The following discussion took place between Tony Cork, the office manager of Hallmark
Data Company, and a new accountant, Cassie Miles:
Cassie: I've been thinking about our method of recording entries. It seems inefficient.
Tony: In what way
Cassie: Well-correct me if I'm wrong-it seems like we have unnecessary steps in the process. We could easily develop a trial balance by posting our transactions directly into the ledger and bypassing the journal altogether. In this way, we could combine the recording and posting process into one step and save ourselves a lot of time. What do you think
Tony: We need to have a talk.
What should Tony say to Cassie
The following discussion took place between Tony Cork, the office manager of Hallmark
Data Company, and a new accountant, Cassie Miles:
Cassie: I've been thinking about our method of recording entries. It seems inefficient.
Tony: In what way
Cassie: Well-correct me if I'm wrong-it seems like we have unnecessary steps in the process. We could easily develop a trial balance by posting our transactions directly into the ledger and bypassing the journal altogether. In this way, we could combine the recording and posting process into one step and save ourselves a lot of time. What do you think
Tony: We need to have a talk.
What should Tony say to Cassie
Explanation
Verified
Verified
Transactions are initially entered in a ...
Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
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