2. What is involved in posting transactions to the general ledger? Do journal
entries change in this step of the accounting cycle? (1 point)
3. If the debits and credits in an unadjusted trial balance are not equal, what
are most likely the reasons? (1 point)
4. Name the five sets of columns that appear on a ten-column worksheet and
describe what they contain. (1 point)
5. Which steps are involved in recording and posting adjusting entries? (1
point)
Answers: 3
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When a shortage or a surplus arises in the loanable funds market a. the supply of loanable funds changes to return the economy to its original real interest rate b. the nominal interest rate is pulled to the new equilibrium level c. the demand for loanable funds changes to return the economy to its original real interest rate d. the real interest rate is pulled to the new equilibrium level
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2. What is involved in posting transactions to the general ledger? Do journal
entries change in thi...
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