20. Transaction amounts or balances are reflected in the: a. financial statements b. journal c. ledger d. trial balance e. all of the above 21. Which sequence of actions correctly summarizes the accounting process? a. Prepare a trial balance, journalize transactions, post to the accounts b. Post to the accounts, journalize the transactions, post to the accounts c. Journalize transactions, post to the accounts, prepare a trial balance d. Journalize transactions, prepare a trial balance, post to the accounts 22. Which of the following accounts increase due to a credit? a. Cash b. Owner's capital c. Accounts payable d. Both b and c increase when credited 23. A business makes a cash payment of $12,000 to a creditor. Which of the following occurs? a. Cash is credited for $12,000 b. Cash is debited for $12,000 c. Accounts payable is credited for $12,000 d. Both a and c a. b