QUESTION 3 The ledger (T-accounts) keeps track of the balance in each account. True False QUESTION 4 The process of putting transactions into the books begins with the ledger (T-accounts). True False QUESTION 5 The income statement is a product of accounting and has a timeframe of over a period of time. True False Click Save and Submit to save and submit. Click Save All Answers to save all answers. QUESTION 1 Credit sales are a transaction. True False QUESTION 2 A transaction can occur that affects only one account. True False QUESTION 3 The ledger (T-accounts) keeps track of the balance in each account. True O False Click Sme and Submit to save and submit. Click Save All Answers to save all answers