Blank loans of $9,00o were paid ofr or s20,800 weas wehased arehased additional shares for 522,000 cas tanement of eash fhows for May, 2004, would veport net cash ows froms operating s13,000 C $23,200 D) S10,000 I. Recognizing revenue when it is earned and not when cash is reeeived and expenses wiven the related goods or services are used rather than when paid for is called: A) Revense recognition ) Accrual accounting O Conservatism D) Matching 22. Which of the following accounts normally has a debit balance? A Accounts payable. B) Retained carnings. C Accounts receivable. D) Service revenue. 23. In accounting, the terms debir and credir indicate, respectively: A) B) C) Increase and decrease. Left and right. Decrease and increase. D) Right and left. 24. The process of originally recording a business transaction in the accounting records is termed: A) Journalizing. B) Footing. C) Posting