Reference no: EM133003818

Problem 1. In a traditional accounting system all entries must be first put in:

a. the General Ledger

b. the Trial Balance

c. the General Journal

d. the Balance Sheet

e. none of the above

Problem 2. Entries are posted from the General Journal to:

a. the General Ledger

b. the Trial Balance

c. the General Journal

d. entries are not posted from the General Journal

e. none of the above

Problem 3. The Note Payable account is increased by:

a. an entry to the left side of the account

b. a Debit entry

c. a Credit entry

d. a Debit entry or a Credit entry depending on the type of transaction

e. none of the above

Problem 4. The Equipment account is increased by:

a. an entry to the right side of the account

b. a Debit entry

c. a Credit entry

d. a Debit entry or a Credit entry depending on the type of transaction

e. none of the above