Quiz 3 100 percent - 1. The principle purpose of posting is...

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1.The principle purpose of posting is toAnswerhelp identify errors made in the journal.accumulate the effects of journalized transactions in the individual accounts.enter transactions directly into the ledger.help determine if the financial statements are ready to be prepared.
1.During February 2010, its first month of operations, the owner of SchwennEnterprises invested cash of $25,000. Schwenn had cash sales of $4,000and paid expenses of $7,000. Assuming no other transactions impacted thecash account, what is the balance in Cash at February 28?
1.Which of the following describes the classification and normal balance ofthe Unearned Revenue account?
1.Which of the following describes the classification and normal balance ofthe Retained Earnings account?

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Term
Fall
Professor
TIBURZI
Tags
Balance Sheet, Revenue, Debit, Generally Accepted Accounting Principles

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