The transaction below affects BOTH the accounts named. Received your phone bill, $120 plus HST: Telephone Expense, Cash.

Question 3 options:

	1) True
	2) False

Question 4 (1 point)

The transaction below affects BOTH the accounts named. Purchased a business licence for $60 using a credit card: Licence Expense, Accounts Payable.

Question 4 options:

	1) True
	2) False

Question 5 (1 point)

The transaction below affects BOTH the accounts named. Paid utility costs of $450 for utility usage last month: Utilities Expense, Cash.

Question 5 options:

	1) True
	2) False