24) Paid the rent for the next six months. A) An asset would be debited and an expense credited. B) An asset would be debited and a revenue credited. C) Capital would be debited and a revenue credited. D) An asset would be debited and an asset credited.

25) The journal described as the simplest form is a (an): A) accounting journal. B) general journal. C) special journal. D) interim journal.

26) The process of initially recording business transactions in a journal is: A) posting. B) sliding. C) journalizing. D) transposing.

27) In the month of June, Davis Computers paid three months