B.Multiple Choice 1. The normal balance of an Account, is at: a. left side. b. the side where the value of the Account is declared to be increased c. right side. d. the side where the account value is declared to be down 2. Debits: a. increase both assets and liabilities. b. decrease both assets and liabilities. c. increase assets and decrease liabilities. d. decrease assets and increase liabilities. 3. Stages in the recording process, including all of the following, except: a. Transfer journal data to proper accounts. b. Analysis of transactions and their impact on the Account c. Record transactions in the journal d. transaction identification 4. Receipt of money from settlement of customer receivables is recorded: a) Debit cash account and credit account payable account b) Debit accounts payable accounts and credit cash accounts c) Debit cash account and credit accounts receivable account d) Debit accounts receivable accounts and credit cash accounts