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The fiscal year of XYZ Inc. is the calendar year. Before closing the Mar-05 period, a GL user notices that an entry related to the Dec-04 period has not been entered. Dec-04 has a closed status. Now that the user has all the approvals, he or she wants to know how to enter and post the journal in GL, ensuring that all balances are reflected correctly.
What must the user do?
A. The user cannot post to a prior period that is not in the current fiscal year. So, enter and post it in Mar-
B. Open Dec-04; enter and post the journal; close the period.
C. Open Dec-04, Jan-05, and Feb-05; enter and post the journal; close all periods.
D. Open Dec-04; enter and post the journal; run the Trial Balance report; close the period.
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