Required information Aug. 1 G1 2 G1 3,000 Aug. 4 G1 31 G1 1,200 600 500 400 1,200 800 G1 825 100 3,000 2,400 1,900 2,725 2,825 2,700 Owner, Capital Date PR Debit Aug. 1 G1 Account No. 307 Credit Balance 18,000 18,000 125 Knowledge Check 01 Which of the following statements are true about the chart of accounts? (You may select more than one answer. Single click the bol with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Different companies use different charts of accounts based on individual ompany need. 2 The chart of accounts contains the balance of all of the accounts in a ledger. 2 The chart of accounts should be ordered in a logical sequence based on type of account 2 The chart of accounts can be ordered in any sequence because they are not formal financial systems