A Trial Balance shows:

a. The extraction of the income statement for a business.

b. The assets, liabilities, and owner's equity of a business.

c. All the accounts and their balances at a certain date.

d. The financial position of a business.

The sales journal is

a. Used only to record sales on credit.

b. Used to record all sales.

c. Used only to record cash sales.

d. None of the above.

10. A Trial Balance shows a. The extraction of the income statement for a business. b. The assets, liabilities, and owner's equity of a business. c. All the accounts and their balances at a certain date. d. The financial position of a business. 11. The sales journal is a. Used only to record sales on credit. b. Used to record all sales. c. Used only to record cash sales. d. None of the above