Both the date of the transaction and a brief description are included in a journal entry.
Correct Answer:
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Q18: Prepaid expenses are recorded as:
A) assets.
B) liabilities.
C)
Q19: Which of the following accounts is NOT
Q20: A trial balance is the list of
Q22: Which of the following accounts decreases with
Q26: The process of copying from the journal
Q27: In the standard accounting system,we use double
Q28: When recording a transaction in a journal,the
Q51: A liability account is increased by a
Q56: Debit refers to the right side of
Q77: An account that normally has a debit
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