The ____ is where a transaction can first be found on the accounting records?

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The ____ is where a transaction can first be found on the accounting records?

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• The ____ is where a transaction can first be found on the accounting records?

  1. journal

  The general journal is commonly referred to as the book of original entry.

• This is elementary stuff! Transactions do not show up on the balance sheet, that’s where everything is rolled up into a net worth figure. Nor do they show up in the income statement, as that’s again a summary that gives you net profit or loss. A chart of accounts is simply that, and is not transaction-oriented.

  Usually, transactions go into General Ledger as journal entries.