What follows immediately after recording journal entries of transactions in the accrual accounting cycle?

In the accrual accounting cycle, after journal entries for transactions have been recorded, the next immediate step is to prepare a trial balance. A trial balance is important because it serves as a way to ensure that the total debits equal total credits after all journal entries have been made. This step helps in identifying any discrepancies in the accounting records before adjustments or financial statements are prepared. The trial balance acts as a preliminary check on the accounts and sets the stage for the subsequent steps in the accounting cycle, such as recording adjusting journal entries, which correct any errors or account for accruals and deferrals. The focus on achieving a balanced trial balance is crucial for maintaining the integrity of the financial statements that will be generated later.