need question 24-28 answered

24. Sally Smith had expenses of $800 in June which she paid in July. She declared these expenses on her June income statement. By doing this she is following the accounting principle o: A. Revenue realization B. Adequate disclosure C. Matching D. Conservatism 25. The purchase of equipment on credit is recorded by a: A. Debit to Equipment and a credit to Accounts Payable. B. Debit to Accounts Payable and a credit to Equipment. C. Debit to Equipment and a debit to Accounts Payable. D. Credit to Equipment and a credit to Accounts Payable. 26. Which of the following accounts normally has a debit balance? A. Accounts payable. B. Retained earnings. C. Accounts receivable. D. Service revenue. 27. The process of originally recording a business transaction in the accounting records is termed: A. Journalizing. B. Footing. C. Posting D. Balancing. 28. If a company purchases equipment on account: A. Assets will increase and owners' equity will also increase. B. Assets will increase and owners' equity will decrease. C. Assets will increase and owners' equity will remain unchanged. D. Assets will increase and liabilities will decrease. The following transactions occurred during March, the first month of operations for Quality Galleries, Inc.: Capital stock was issued in exchange for $360,000 cash. Purchased $180,000 of equipment by making a $60.000 cash down payment and signing a note payable for the balance. Made a $35,000 cash payment on the note payable from the purchase of equipment. * Sold a piece of equipment for cash of $18,000. The equipment was sold at cost, so there is no gain or loss on the sale