Which of the following would not be contained in a transaction log?

A general journal

A) would be used to record monthly depreciation entries. B) simplifies the process of recording large numbers of repetitive transactions. C) records all detailed data for any general ledger account that has individual sub-accounts. D) contains summary-level data for every account of the organization.

The use of the allowance method is an attempt by accountants to match bad debts as an expense with the revenue of the period in which a sale on credit takes place

a. True b. False Indicate whether the statement is true or false