Final answer:
The postings from the sales journal to the general ledger are done daily to ensure accurate and up-to-date financial statements. The correct answer is option 3).
Step-by-step explanation:
The postings from the sales journal to the general ledger are done daily. When transactions occur in a business, they are initially recorded in a sales journal. However, for those transactions to be accurately reflected in the company's financial statements, they must be transferred to the general ledger.
This transfer process, also known as posting, should ideally be done on a daily basis. It ensures that the general ledger is always up-to-date and provides an accurate representation of the company's financial position. Daily posting also allows for better monitoring and analysis of sales activities.
Regularly updating the general ledger helps identify any discrepancies or errors early on, allowing for timely corrective actions. In contrast, if postings were done on a weekly, monthly, or yearly basis, it would be more challenging to track and manage the sales data effectively.