select three statements that are correct about journal entries. (choose 3)\nthe accounts used on a journal…

select three statements that are correct about journal entries. (choose 3)\nthe accounts used on a journal entry come from the chart of accounts.\na journal entry can only have two lines.\na journal entry must have a date.\nyou should enter your name in the name field on the journal entry form to identify who is creating the entry.\ntotal debits must equal total credits on a journal entry.

select three statements that are correct about journal entries. (choose 3)\nthe accounts used on a journal entry come from the chart of accounts.\na journal entry can only have two lines.\na journal entry must have a date.\nyou should enter your name in the name field on the journal entry form to identify who is creating the entry.\ntotal debits must equal total credits on a journal entry.

Answer

Brief Explanations:

  • Accounts in journal entries are from chart of accounts as it lists all accounts.
  • Journal entries must have a date for chronological record - keeping.
  • Debits and credits must balance in a journal entry to maintain accounting equation. A journal entry can have more than two lines and entering name is not a standard requirement for journal entries.

Answer:

  • The accounts used on a journal entry come from the chart of accounts.
  • A journal entry must have a date.
  • Total debits must equal total credits on a journal entry.