Click to watch the Tell Me More Learning Objective 3 video and then answer the questions below. 1. The process of transferring the debits and credits from the journal entries to the accounts in the ledger is called a. recording. b. posting. c. journalizing. d. double-entry accounting. 2. On March 15, Civic Company paid its employees for two weeks' wages. This transaction will have which of the following impacts on the accounting equation? a. Assets will increase and liabilities will decrease. b. Assets will decrease and stockholders' equity will increase. C. Assets will increase and liabilities will increase. d. Assets will decrease and stockholders' equity will decrease. 3. On November 21, Civic Company received $550 from customers in payment of their accounts. The joumal entry to record this transaction would include a. a debit to Cash. b. a debit to Accounts Receivable. c. a credit to Accounts Payable. d. a credit to Cash