Review Question 1 What is the difference between journalizing and posting?

Review Question 4 Journalize the following transactions for Tip Top Associates, Inc., incurred during the month of July 19X4 (assume accrual basis)

Review Question 6 What is a "real" account? How does it differ from a nominal account?

$12,000 250 3,500 6-Jul Initializing capital deposited in bank 10-Jul Office supplies purchased 12-Jul Purchase computer (paying $1000 with balance on account) 15-Jul Office rent 20-Jul Billing to Jones County Board of Education 25-Jul Salaries-employee payroll 28-Jul Paid on account for computer 30-Jul Cost of expended supplies 425 1,255 655 800 145 Transaction# Date Description Debit Credit