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entries to the cash account amounted to $600. The cash account
has a(n)
$300 credit balance.
$900 debit balance.
$600 credit balance.
$300 debit balance.
Multiple Choice Question 61
Which of the following statements is true?
Credits decrease assets and decrease liabilities.
Debits increase assets and increase liabilities.
Credits decrease assets and increase liabilities.
Debits decrease liabilities and decrease assets
Multiple Choice Question 95
The final step in the recording process is to transfer the journal
information to the
trial balance.
financial statements.
ledger.
file cabinets.
Multiple Choice Question 88
The usual sequence of steps in the transaction recording process
is:
analyze→ journal → ledger.