22. The purchase of supplies on credit should be recorded with a debit to Supplies and a credit to Accounts Payable. True False 23. If a company purchases land paying cash, the journal entry to record this transaction will include a debit to Cash. True False 24. If a company provides services to a customer on credit the selling company should credit Accounts Receivable. True False 25. When a company bills a customer for $600 for services rendered, the journal entry to record this transaction will include a S600 debit to Services Revenue. True False 27. Posting is the transfer of journal entry information to the ledger. True False 28. Transactions are first recorded in the ledger. True False 29. The journal is known as a book of original entry. True False 30. A journal gives a complete record of each transaction in one place, and shows the debits and credits for each transaction. True False 31. The journal is known as the book of final entry because financial statements are prepared from it. True False 32. The trial balance is a list of all accounts and their balances at a point in time taken from the ledger. True False