What is one of the basic steps in the recording process?

Transfer the journal information to the appropriate accounts in the ledger

Subtract liabilities from the total revenue

Compare revenues to assets

Predict how much revenue could be made in the next quarter

1 answer

One of the basic steps in the recording process is to transfer the journal information to the appropriate accounts in the ledger. This step involves posting transactions recorded in the journal to their respective accounts in the ledger, which is essential for organizing financial data and preparing for financial statements.

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