It refers to the transfer of closing balance from various accounts to the general ledger. The posting varies as per the size of the organization and the volume of transactions. The balance is directly transferred to a https://www.bookstime.com/ general ledger for small organizations because of the low volume of accounting transactions. To fully understand the accounting cycle, it’s important to have a solid understanding of the basic accounting principles. BUS103: Introduction to Financial Accounting If you debit an account in

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