Question: 1. What notations are entered into the Posting Reference column of a ledger account?
2. When a general journal entry is used to record sales returns, the credit of the entry must be posted twice. Does this cause the trial balance to be out of balance? Explain.
3. Describe the procedures involving the use of copies of a company's sales invoices as a sales journal.
4. Why should sales to and receipts of cash from credit customers be recorded and posted immediately?