1) The standard formatting for a journal entry:

a. lists credits first and then debits, indented underneath

b. lists credits first and then debits, both aligned to the left.

c. lists debits first and then credits, both aligned to the right.

d. lists debits first and then credits, indented underneath.

2) If a company borrows money from a bank and signs an agreement to repay the loan several years from now, in which account should the company report the amount borrowed?

a. Bonds payable

b. Account payable

c. Notes payable

d. Contributed capital