In which two scenarios should you use a periodic journal? Each correct answer presents a
complete solution.

A.
You prepaid your annual insurance and want to amortize the expense monthly
throughout the year.

B.
You need to revalue automatically foreign currency transactions in the general ledger
based on the month-end exchange rates.

C.
You need to automatically allocate your monthly indirect expenses to departments based
on departmental revenue for the month.

D.
You need to pay a fixed management fee on the first day of every quarter.

Explanation: