The strategy of initially recording a enterprise transaction is called a. The means of initially recording a business transaction is called a(n) _____ is a formal way of representing how a business system interacts with its environment. journalizing. The means of initially recording a enterprise transaction is called.
A journal is a chronological report of enterprise transactions. A journal entry is the recording of a business transaction within the journal. A journal entry reveals all the consequences of a enterprise transaction as expressed in debit and credit score and will include an evidence of the transaction. A transaction is entered in a journal before it’s entered in ledger accounts. Because each transaction is initially recorded in a journal rather than immediately in the ledger, a journal is called a book of unique entry. Then we translate these enhance or decrease effects into debits and credits.
Recordkeeping is the recording of transactions and events, either manually or electronically. This chapter provides a brief description of how transactions are recorded in accounting systems, including using codes to outline info precisely. The books of prime entry are the money e-book, the petty cash guide, the gross sales day guide, the purchases day book and the journal.
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