Review the statements below and select the ones that are correct regarding the posting procedure from a sales journal to the general ledger and any existing subsidiary ledger.
a) If a subsidiary account is affected, only the control account in the general ledger is updated.
b) The sales journal's account columns are totaled at the end of the period. These totals are posted to the general ledger.
c) Customer accounts in the sales journal are posted individually in the subsidiary ledger.
d) The account numbers of the general ledger accounts are entered into the PR column of the sales journal.
e) After posting to a subsidiary ledger, a check mark is placed next to the general ledger account number in the PR column of the sales journal.

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.

Acrosswalk_when there are no pavement markings.

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. question 1 options: true false