16. The procedure of transferring jounal entries to the ledger accounts is A) jounalizing. B) analyzing. C) reporting. D) posting. 17. Deerhoof Company purchases equipment for $1,700 and supplies for $400 from Milkman Co. for $2,100 cash. The entry for this transaction will include a A) debit to Equipment $1,700 and a debit to Supplies Expense $400 for Milkman. C) credit to Accounts Payable for Deerhoof D) debit to Equipment $1,700 and a debit to Supplies $400 for Deerhoof. credit to Cash for Milkman. 18. A list of accounts and their balances at a given time is called a(n) A) journal. B) posting. C) trial balance. D) income statement. 19. The revenue recognition principle dictates that revenue should be recognized in the accounting records A) when cash is received. B) when it is earned. C) at the end of the month. D) in the period that income taxes are paid. 20. Crue Company had the following transactions during 2012: Sales of $4,500 on account Collected $2,000 for services to he performed in 2013 .Paid-$1,625-cash in salaries Purchased airline tickets for $250 in December-for a trip to take place in 2013 What is Crue's 2012 net income using cash basis accounting? A) $125. ) $375. C) $4,625. D) $4,875