1- Which of the following transactions is recorded in the revenue journal? 1. sale of excess office equipment for cash 2. rendering services on account 3. rendering services for cash 4. sale of excess office equipment on account ----------------------- 2- If the individual subsidiary ledger accounts of Accounts Receivable and Accounts Payable contained the following data: Cadence Company - Vendor - $125 credit balance Franklin Enterprises - Customer - $75 debit balance Marcelo Construction - Client - $375 - debit balance Peyton Supplies - Supplier - $275 - credit balance The Accounts Receivable (A/R) controlling account balance and the Accounts Payable (A/P) controlling account balances would be: 1. A/R - $400, A/P - $450 2. A/R - $450, A/P - $400 3. A/R - $200, A/P - $650 4. A/R - $75, A/P - $775 --------------------------------------- 3- Which of the following journals is called an all-purpose journal? 1. Accounting journal 2. Purchases journal 3. General journal 4. Revenue journal ----------------------------------------------- 4- A cash purchase of supplies should be recorded in the 1. General journal 2. Purchase journal 3. Cash Payments journal 4. Cash Receipts journal