2. 3. 4. 456 7. 8. 9. 10. TRUE OR FALSE Debits and credits must equal for every transaction. A list of all recorded journal entries is maintained in the ledger. Revenue may not be recorded until cash is collected. A transaction is any event that has a financial impact on a company. An expense account is increased with a credit. Examples of accrued expenses include salary, rent, and interest. Posting refers to process of recording journal entries. A company must recognize an accrued expense as incurred. The matching principle states that expenses should be recognized in the same period as the revenues they help generate. Unearned revenue is a type of revenue account.