Describe the purposes of the General Journal, General Ledger, Trial Balance, and Financial Statements, and how they "flow into" each other.

General journal is like a day planner it is an original journal of all accounting transactions listed by date. The General Journal is a snapshot of the company’s accounting transactions.
General Ledger tracks 5 accounting items: assets, liabilities, owner”s equity, revenues and expenses
Trial Balance is a list of all general ledger accounts contained in a ledger of the business. This list includes names and balances of each account, using double entry (debits, credits) each account will have a debit or credit balance.
Financial statements: balance sheets, income statements, cash flow statements, and shareholders equity.

All of these together gives you a snapshot of the business” financial position.

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Renting provides greater flexibility but can lead to higher costs in the long term.answer: b) or the second option.