Transaction information may be entered directly into the accounts without using a journal.
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Q3: All accounts reported in the statement of
Q5: The recording process becomes more efficient and
Q6: When the volume of transactions is large
Q8: The normal balance of all accounts is
Q9: Transactions are entered in the ledger first
Q11: A debit to an account indicates an
Q13: A credit balance in a liability account
Q17: Each transaction must be analyzed in terms
Q20: Revenues are a subdivision of retained earnings.
Q20: If a revenue account is credited the
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