Accounting cycles

General Accounting Principles

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To record a transaction in the general journal correctly, the accountant or book-keeper needs

To find the accounts involved in transaction

To ascertain the increase or decrease in accounts

To apply the rules of debit and credit

All of the above

Explanation:

To record a transaction in the general journal correctly, the accountant or book-keeper needs to find the accounts involved in transaction, To ascertain the increase or decrease in accounts,To apply the rules of debit and credit to know which account is to be debited and which account to be credited.

By: Munesh Kumari

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