Quiz 4: The General Journal and the General Ledger
When an Entry Is Made in the General Journal
When an entry is made in the general journal, A) the accounts to be credited should be indented. B) the first account entered should be indented. C) liability,capital,and revenue accounts should be indented. D) asset accounts should be indented.
Explore answers and all related questions
When an entry is made in the general journal, A) assets should be listed first. B) accounts to be debited should be listed first. C) accounts to be increased should be listed first. D) accounts may be listed in any order.
The journal entry to record the sale of services on credit should include A) a debit to Accounts Receivable and a credit to Capital. B) a debit to Cash and a credit to Accounts Receivable. C) a debit to Fees Income and a credit to Accounts Receivable. D) a debit to Accounts Receivable and a credit to Fees Income.
If a transaction is properly analyzed and recorded, A) only two accounts will be used to record the transaction. B) one account balance will increase and another will decrease. C) one asset account will be debited and one liability account will be credited. D) the total dollar amount debited will equal the total dollar amount credited.
Explore all questions
How it work
Terms And Conditions
© 2020-2021 Cozyplus FZ LLC. All rights reserved