Where is accounting data first entered?Multiple choice question.on a balance sheetin a ledgeron an accounting recordin a journal

The correct answer is in a journal.

Explanation:

1. Understanding Accounting Basics: In accounting, the process of recording transactions begins with entering data into a journal, which is often referred to as the book of original entry.

2. Function of a Journal: The journal records all transactions chronologically, providing a detailed account of each transaction before they are subsequently posted to the appropriate accounts in the ledger.

3. Process Flow: After data is recorded in the journal, it is then transferred to the ledger, where transactions are organized by accounts. The balance sheet is prepared from the information contained in the ledger.

Hence, the first step in the accounting cycle is to record data in a journal.