question 18-20

QUESTION 18 The collection of all business transactions sorted by account in an accounting system is referred to as: O a. a trial balance Ob a general ledger Oca general journal Od a closing entry QUESTION 19 Suppose you write a check for $900 to advertise your business in a trade magazine. How would you account for this transaction? O a Debit cash for $900 and credit advertising expense for $900. O b. Debit advertising assets for $900 and credit cash for $900. OC. Debit advertising expense for $900 and credit cash for $900. Od. Debit cash for $900 and credit advertising assets for $900. QUESTION 20 Lamar Corporation soid products to customers on June 30, 2016 for a total price of $15,000. The terms of the sale are that payment is due in 30 days. The cost of the products was $9,000. The most likely net change in Lamar's total assets on June 30, 2016 related to this transaction is O a $15,000 Ob. $6,000 OC 2,000 d. 30