Match the characteristics to the types of accounts. records entries in
chronological order

T- Shaped account

has explanations for each
entry

has a closing account
balance

second step in accounting
cycle

Match them to either Journal or Ledger

Sara bought 12 3/4 cakes sara's friends ate 3/8 how much cake is left

Materials purchases (on credit). direct materials used in production. direct labor paid and assigned to work in process inventory. indirect labor paid and assigned to factory overhead. overhead costs applied to work in process inventory. actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) transfer of jobs 306 and 307 to finished goods inventory. cost of goods sold for job 306. revenue from the sale of job 306. assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions.

If the findings and the results are not presented properly, the research completed was a waste of time and money. true false