Question

Which 3 statements are true about journal entries? (Quick Books)

(Select all that apply)

1. Total debits must equal total credits

2. You can post to Products and Services in a journal entry

3. When posting to the accounts receivable account, you must specify a vendor

4. When posting to the accounts receivable account, you must specify a customer

5. You can post to multiple accounts receivable and/or accounts payable accounts in the same journal entry