4. The process of transferring the debits and credits from the journal to the accounts is C a Two column journal C b. Posting c. Analysis d. Double-entry accounting 23518 5. Which of the following types of accounts has a normal credit balance? a. Expense C b.Drawing c. Revenue d. Assets 23519 6. If Websavvy (an imaginary web design organization) purchased an insurance policy for the automobile that is used in the business, and the policy was for 24 months and the cost was $4,800, the entry to record this purchase is: Debit to Cash $4,800, Credait to Insurance Expense $4,800 Debit to Insurance Expense $4,800, Credit to Cash $4,800 Debit to Prepai d Insurance $4,800, Credit to Cash $4,800 Debit to Cash $4,800, Credit to Prepaid Insurance $4,800 7. Websavvy paid the electric and gas bill for the month in the amount of $325.00. What is the entry to record this transaction? a. Debit Cash for $325.00, Credit to Usilities Expense for $325.0o. b. Debit to Utilities Expense for $325.00, credit to Cash for $325.00. c. Debit Accounts Receivable for $325.00, credit to Uslities Expense for $325.00. d. Debit to Utilities Expense for $325.00, debit to Accounts Receivable for $325.00