1) Which two things would you start with to open a General Ledger account? a) date b) account name c) post reference d) account number 2) The symbol to show a an opening balance is a a) check mark b) asterisk c) sigma d) dash 3) Posting is the ____________________ step in the Accounting Cycle. a) first b) third c) fourth d) fifth 4) The post reference code we use in the General Ledger for transaction that has been posted from the Journal is  a) A1 b) E1 c) J1 d) G1 5) Calculate the closing balance if the opening balance is 50000 (DT). A transaction of 2000 (DT), 450(CR), 380(DT) and 540(DT) has taken place. What is the closing balance? a) 52470 b) 2470 c) 53370 d) 51550 6) Which two ledger accounts will you open up for the following transaction? Issued a check for $300 for grooming supplies. a) Grooming Equipment b) Grooming Supplies  c) Cash in Bank  d) Equipment

General Ledger

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