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250) A more structured format that is similar to a T-account in that it has columns for debits and credits, but that is different in that it has columns for transaction date, explanation, and the account balance is the ________. Answer: balance column account Difficulty: 1 Easy Topic: The Account and Its Analysis Learning Objective: 02-C2 Describe an account and its use in recording transactions. Bloom's: Remember AACSB/Accessibility: Communications / Keyboard Navigation AICPA: BB Industry; FN Decision Making 251) The posting process is the link between the ________ and the ________. Answer: journal; ledger (Answers can be recorded in either order) Difficulty: 1 Easy Topic: Journalizing and Posting Transactions Learning Objective: 02-P1 Record transactions in a journal and post entries to a ledger. Bloom's: Remember AACSB/Accessibility: Communication / Keyboard Navigation AICPA: BB Industry; FN Decision Making 252) You increase the Service Revenue account on the ________ side of its account. Answer: right or credit Difficulty: 1 Easy Topic: Debits and Credits Learning Objective: 02-C4 Define debits and credits and explain double-entry accounting. Bloom's: Remember AACSB/Accessibility: Communications / Keyboard Navigation AICPA: BB Industry; FN Decision Making 253) You decrease the Accounts Payable account on the ________ side of its account. Answer: left or debit Difficulty: 2 Medium Topic: Debits and Credits Learning Objective: 02-C4 Define debits and credits and explain double-entry accounting. Bloom's: Remember AACSB/Accessibility: Communications / Keyboard Navigation AICPA: BB Industry; FN Decision Making

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Test Bank for Fundamental Accounting Principles 24th Edition Wild  

Fundamental Accounting Principles 24th Edition Wild Test Bank 2019 (9781259916960) (1259916960). Instant test bank download. Download from h...

Test Bank for Fundamental Accounting Principles 24th Edition Wild  

Fundamental Accounting Principles 24th Edition Wild Test Bank 2019 (9781259916960) (1259916960). Instant test bank download. Download from h...

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