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Unformatted text preview: the transaction. Step 2 Record the transaction in the general journal using the proper format. Step 3 Post the transaction from the general journal into the General Ledger. Step 4 At the end of accounting period, prepare the unadjusted Trial Balance. In chapter 4 the accounting cycle is completed Step 5 Prepare the adjusting entries by recording them in the General Journal and then posting the transactions into the General Ledger. Step 6 Prepare the financial statements Step 7 Close the temporary accounts (all income statement accounts) by recording the closing entries into the General Ledger. Step 8 Prepare the Post Closing Trial Balance. The Post Closing Trial Balance will contain only the Balance Sheet Accounts (the permanent accounts). If you have any questions concerning chapter 4, please e-mail me or see me before or after class Dr. Harris...
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This note was uploaded on 02/19/2011 for the course BUS 201 taught by Professor Tomos during the Spring '11 term at Indian Institute Of Management, Ahmedabad.
- Spring '11
- Income Statement