Which is true about recording journal entries?

Total debits must equal total credits is a fundamental principle of double-entry accounting. This system is based on the concept of maintaining the accounting equation, which states that assets equal liabilities plus equity. When a business records a transaction, it affects at least two accounts. For every debit entry made in one account, a corresponding credit entry must be made in another account to ensure that the accounting equation remains balanced. This requirement not only ensures accuracy in financial reporting but also helps in detecting errors in the recording process.

The other options do not represent the foundational rules of journal entries. For instance, there can be cases where debits do not exceed credits, and a transaction can involve multiple accounts, contradicting the assertion that you cannot post to more than one account. Additionally, while having journal entries reviewed can be good practice for ensuring accuracy and compliance, it is not a mandatory requirement for recording journal entries.