Question 19 Juan Kirby is confused about how accounting information flows throug

Question

Question 19 Juan Kirby is confused about how accounting information flows through the accounting system. He believes the flow of information is as follows. (a) Debits and credits posted to the ledger. (b) Business transaction occurs. (c) Information entered in the journal (d) Financial statements are prepared. (e) Trial balance is prepared. Your answer is incorrect Try again. Is Juan correct? Juan is not correct v LINK TO TEXT Your answer is incorrect. Try again. If not, indicate to Juan the proper flow of the information

Explanation / Answer

1. No, Juan is not correct.

2. Proper flow of the information:

Business Transaction occurs Information entered in the journal Debits and credits posted to the ledger Trial balance is prepared inancial Statements are prepared

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