24) Paid the rent for the next six months. A) An asset would be debited and an e

Question

24) Paid the rent for the next six months.
A) An asset would be debited and an expense credited.
B) An asset would be debited and a revenue credited.
C) Capital would be debited and a revenue credited.
D) An asset would be debited and an asset credited.

25) The journal described as the simplest form is a (an):
A) accounting journal.
B) general journal.
C) special journal.
D) interim journal.

26) The process of initially recording business transactions in a journal is:
A) posting.
B) sliding.
C) journalizing.
D) transposing.

27) In the month of June, Davis Computers paid three months

Explanation / Answer

24) D

25) C

26) A

27) B

28) B   

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