6. Indicatewhichjoumal would beusedto record the following transactions. Select from the followirng CashReceipts Joumal Cash Disbursements Joumal, Sales Joumal Purchases Jourmal, and General Journal.a. Sold inventory for cashb.Sold inventory on accountc Received cash a week after selling items on creditd Paid cash to purchase inventorye.Paid a cash dividend to shareholders£Sold sharesofstock for casha.b.C.d.e.f.2. Bought equipment forcashh Recorded anadjusting entry for suppliesiPaid for a purchase of inventory on accontwithin the discount period ij Paid for a purchase ofinventory on account after the discount periodhaspassed,k. Bought inventory and agreed to paywithin the next 30 days1 Receivedbut didnot pay the phone bill. Will pay in 20 days.m Retumed defective goods purchasedon credit to the supplier. Thecompanyhadnotyet paid for themn. Jook out a loan fromthe banko. Paid employeewagesh.k.1.1.theconetinumalt

Sales Journal – For all credit sales of inventory Purchase Journal – For all credit purchase of…

6. Indicate whichjoumal would be used to record the following transactions. Select from the following: Cash Receipts Joumal Cash Disbursements Joumal, Sales Joumal, Purchases Joumal, and General Joumal

6. Indicate whichjoumal would be used to record the following transactions. Select from the following: Cash Receipts Joumal Cash Disbursements Joumal, Sales Joumal, Purchases Joumal, and General Joumal

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 1PB: Provide journal entries to record each of the following transactions. For each, also identify: *the...

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Question

6. Indicatewhichjoumal would beusedto record the following transactions. Select from the followirng Cash
Receipts Joumal Cash Disbursements Joumal, Sales Joumal Purchases Jourmal, and General Journal.
a. Sold inventory for cash
b.Sold inventory on account
c Received cash a week after selling items on credit
d Paid cash to purchase inventory
e.Paid a cash dividend to shareholders
£Sold sharesofstock for cash
a.
b.
C.
d.
e.
f.
2. Bought equipment forcash
h Recorded anadjusting entry for supplies
iPaid for a purchase of inventory on accontwithin the discount period i
j Paid for a purchase ofinventory on account after the discount period
haspassed,
k. Bought inventory and agreed to paywithin the next 30 days
1 Receivedbut didnot pay the phone bill. Will pay in 20 days.
m Retumed defective goods purchasedon credit to the supplier. The
companyhadnotyet paid for them
n. Jook out a loan fromthe bank
o. Paid employeewages
h.
k.
1.
1.
theconetinumalt

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