Chapter 2 Work Calculator Click to watch the Tell Me More Learning Objective 3 video and then answer the questions below. 1. The process of transferring the debits and credits from the journal entries to the accounts in the ledger is called a. recording b. posting C. Journalizing d. double-entry accounting, 2. On March 15, Civic Company paid its employees for two weeks' wages. This transaction will have which of the following impacts on the accounting equation? a. Assets will increase and liabilities will decrease b. Assets will decrease and stockholders' equity will increase. c. Assets will increase and liabilities will increase d. Assets wil decrease and stockholders' equity will decrease. 3. On November 21, Civic Company received $550 from customers in payment of their accounts. The journal entry to record this transaction would include a a debit to Cash. b. a debit to Accounts Receivable. c. a credit to Accounts Payable d. a credit to Cash Check My Work 3 more Check My Works remaining Previous Next Assignment Score: 0.0% Save and Subme Asurment for Card accounting equi b. Assets will decrease and stockholders' equity will increase. c. Assets will increase and liabilities will increase. d. Assets will decrease and stockholders' equity will decrease. 3. On November 21, Civic Company received $550 from customers in payment of their accounts. The journal entry to record this transaction would indue a. a debit to Cash. b. a debit to Accounts Receivable. c. a credit to Accounts Payable. d. a credit to Cash. 4. On May 21, Civic Company paid dividends of $1,000 to the shareholders. The journal entry to record this transaction would indude debit to a. Cash b. Common Stock. c. Dividends. d. Retained Earnings. Check My Work 3 more Check My Work uses remaining