Transactions are first recorded in a

A$)$ ledger

B$)$ chart of accounts

C$)$ journal

D$)$ trial balance

Posting a transaction means

A$)$ preparing a summary of account balances

B$)$ finding the account number in the chart of accounts

C$)$ calculating the balance in an account

D$)$ transferring data from the journal to the ledger

A business purchases equipment for $$8,000$ cash. Which of the following accounts is

credited?

A$)$ Cash

B$)$ Common Stock

C$)$ Accounts Payable

D$)$ Equipment

A business renders services to a customer for $$26,000$ on account. Which of the following

accounts is credited?

A$)$ Accounts Payable

B$)$ Cash

C$)$ Service Revenue

D$)$ Accounts Receivable