Question

Sally completes the post ref column in one accounting record before entering an account number. She is most likely doing what procedure?

1) posting
2) journalizing
3) preparing a trial balance
4) adjusting

Answer 1

Sally is performing the posting(1) process in accounting, which involves updating the general ledger with transactions recorded in the journal.

Step-by-step explanation:

Sally is most likely posting (1) when she completes the post ref column in an accounting record before entering an account number. Posting is the process of transferring information from a journal entry to the corresponding accounts in the general ledger. This step is crucial because it updates the ledger with all the transactions that occurred during a particular period, and it is performed after journalizing but before preparing a trial balance or making any adjustments.