Stumped on a simple accounting question...

label Accounting
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

which of the following is true?

1 if sum of debit balances equal sum of credit balances then there were no mistakes made during posting

2 if all transactions are posted correctly to the gen. ledger, the sum of the accts. with debt balances should = to the sum of accts. with credit balances

3 if debt entry is made to account in general journal, the same acct will receive a credit entry when amount is posted to general ledger

Sep 10th, 2015

Thank you for the opportunity to help you with your question!

2 if all transactions are posted correctly to the gen. ledger, the sum of the accts. with debt balances should = to the sum of accts. with credit balances

Please let me know if you need any clarification. I'm always happy to answer your questions.
Sep 10th, 2015

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Sep 10th, 2015
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Sep 10th, 2015
Oct 21st, 2017
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