Question

After returning to the bank, Tom went to his office to review the books more closely. He wanted to make sure that everything was recorded correctly. Several changes had been made, due to the air conditioning repair.

After returning from the bank, Tom went to his office to review the books more closely. He wanted to make sure that everything was recorded correctly. Several changes had been made, due to the air conditioning repair Mark the statements as true or false How to: Select one option from each row. True False The changes Tom made to his accounts are called journal entries When an accounting event takes place, both a debit and a credit must be recorded. For any accounting transaction, an entry is typically only made in one account

Answer 1

1 Answer is True Recording of transaction by journal enrty

2 Answer is True both debit and credit is required

3 False. an entry is typical made in multiple accounts