Which sequence correctly summarizes the accounting​ process? A. Journalize​ transactions, post to the​ accounts, prepare a trial balance. B. Journalize​ transactions, prepare a trial​ balance, post to the accounts. C. Post to the​ accounts, journalize​ transactions, prepare a trial balance. D. Prepare a trial​ balance, journalize​ transactions, post to the accounts.

A. Journalize transactions, post to the accounts, prepare a trial balance

Explanation:

Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP).

A journal entry involves the process of keeping the records of business transactions made by an organization.

Basically, a journal entry is used by bookkeepers and accountants.

Ideally, it is important that a journal has all of following informations; date, reference number, debit balance, credit balance and transaction description.

The main purpose of a general journal is to record a chronological listing of every transaction for an organization at a given time.

In Financial accounting, the sequence that correctly summarizes the accounting process is journalizing transactions, posting to the accounts, and preparing a trial balance.

A trial balance consists of a two-column schedule listing names and balances of all ledger accounts.

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