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  1. business
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  3. transactions are first recorded in a a) ledger

Transactions are first recorded in a A) ledger B) chart of accounts...

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Accounting

Transactions are first recorded in a
A) ledger
B) chart of accounts
C) journal
D) trial balance
Posting a transaction means
A) preparing a summary of account balances
B) finding the account number in the chart of accounts
C) calculating the balance in an account
D) transferring data from the journal to the ledger
A business purchases equipment for $8,000 cash. Which of the following accounts is
credited?
A) Cash
B) Common Stock
C) Accounts Payable
D) Equipment
A business renders services to a customer for $26,000 on account. Which of the following
accounts is credited?
A) Accounts Payable
B) Cash
C) Service Revenue
D) Accounts Receivable
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