Final answer:
To find the current account balance, sum up the columns for Exports, Imports, and Balance. The future account balance is determined by adding the journal entry to the current balance. The company's accounting system or ledger is used to track these transactions.
Step-by-step explanation:
To answer the client's questions regarding the journal, you would follow these steps:
To check the current account balance, you would look at the first number under the Balance column after summing up the columns for Exports, Imports, and Balance.
To calculate what the future account balance will be if the journal is approved and posted, you would add or subtract the journal entry amounts from the current balance, depending on whether they are debits or credits.
To obtain this information, you would use the company's accounting system or ledger to track the transactions, ensuring to include the potential changes from the journal in question.
It's important to understand these concepts such as the T-account, merchandise balance, and transaction costs, which are all part of the broader accounting and financial management practices.