4.The journal serves as a

a. record of initial entry of transactions into the accounting system.

b. group of accounts for the business entity.

c. summary of the transactions in each account to determine the account balance.

d. list of the accounts that can be used by the business entity.

5.The journal entry to record fees of $13,500 earned on account would include

a. a debit to Cash for $13,500 and a credit to Fees Earned for $13,500.

b. a debit to Fees Earned for $13,500 and a credit to Accounts Receivable for $13,500.

c. a debit to Accounts Receivable for $13,500 and a credit to Fees Earned for $13,500.

d. a debit to Cash for $13,500 and a credit to Accounts Receivable for $13,500.

6.Which of the following groups of accounts increase with credits?

a. Accounts Payable, Unearned Rent, Fees Earned

b. Accounts Receivable, Prepaid Insurance, Unearned Rent

c. Accounts Payable, Accounts Receivable, Fees Earned

d. Prepaid Insurance, Unearned Rent, Fees Earned