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Please help me answer 2 questions 1. A general journal provides a place for recording all of the following except : Multiple Choice The balance

Please help me answer 2 questions

1. A general journal provides a place for recording all of the following except:

Multiple Choice

  • The balance in each account.

  • The transaction date.

  • An explanation of the transaction.

  • The amount of each debit and credit.

  • The names of the accounts involved

2. A double-entry accounting system is an accounting system:

Multiple Choice

  • That records each transaction twice.

  • That allows total debits to be greater than total credits.

  • In which each transaction affects and is recorded in two or more accounts but that could include two debits and no credits.

  • That allows total credits to be greater than total debits.

  • That records the effect of each transaction in at least two accounts with equal debits and credits.

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