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What are the 5 steps of maintaining a trust account bookkeeping system?

April 26, 2017account bookkeeping maintaining steps system Trust

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What are the 5 steps of maintaining a trust account bookkeeping system?

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a. Record trust account receipts and disbursements in a journal. b. Post to a ledger. c. Prepare a monthly bank reconciliation. d. Prepare a monthly trial balance. e. Compare the trial balance against the reconciliation and the journal balance for accuracy.