A general journal only needs to include the accounts to be debited and credited for the transaction and the accounts to be debited and credited.
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Q21: Debit amounts are always recorded on the
Q22: Each asset account typically has a credit
Q23: Debit entries always increase the balance of
Q24: Withdrawal accounts ate increased by debit entries
Q25: The major steps involved in the accounting
Q27: If A Ltd pays B Ltd $340
Q28: A chart of accounts is a numbering
Q29: When posting occurs the accounting cycle becomes
Q30: A business with a manual accounting system
Q31: The general ledger is the most important
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