BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Journal entries are sorted and summarized by transferring information to
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accounts payable ledger accounts
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accounts receivable ledger accounts
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ledger accounts
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all of these
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Explanation:
Detailed explanation-1: -Journal entries are sorted and summarized by transferring them to a ledger. The process of transferring from the journal to the ledger is called posting. A business’ size, number of transactions, and type of transactions determine the number of ledgers used in an accounting system.
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