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Services provided for cash are recorded in the revenue journal. True False 24. TF 05-029 The use of subsidiary ledgers is limited to Accounts Payable

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Services provided for cash are recorded in the revenue journal. True False 24. TF 05-029 The use of subsidiary ledgers is limited to Accounts Payable and Accounts Receivable. True False 25. MC 05-092 A withdrawal of cash made by the owner will be found in the a. purchases journal b. revenue journal C. cash payments journal d. cash receipts journal 26. TF02-038 Expense accounts are increased by Credits True False 27 TF 02-052 Liabilities are increased with debits and decreased with credits True False

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