Reference no: EM132959273
Problem 1: Given the following list of accounts with normal balances, what are the trial balance totals of the debits and credits?
Cash $900
Accounts Receivable 50
Capital 750
Salaries Expense 2,000
Service Revenue 3,100
Rent Expense 900
A) $200 debit, $1,000 credit
B) $200 debit, $200 credit
C) $1,000 debit, $1,000 credit
D) $3,850 debit, $3,850 credit
Problem 2: The proper format for a journal entry includes all of the following EXCEPT
A) the total amounts of debits must equal the total amount of credits.
B) skip a line between transactions.
C) the credit portion of the transaction is always first.
D) listed in chronological order.
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