File Edit View History Bookmarks Profiles Tabl Window Help Inbox (2 x MACC101 x (4726) IF X Account x Account X M Question X WiConnect x Content xM SmartBo X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu %252Fwebapps%252Fbla apter 7 Quiz 8 2.12 oints Mc Graw Hill Saved Exercise 7-2 (Algo) Identifying journal of entry LO P1, P2, P3, P4 Finer Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Identify the journal in which each of the transactions should be recorded. Date Transaction May 2 The company purchased $15,340 of merchandise on credit from Bryant Company terms n/10. May 5 Sold merchandise costing $300 to B. Facer for $450 cash, invoice number 5703. May 7 Paid salary of $6,800 to J. Terry by issuing check number 543. May 8 Purchased $830 of store supplies from Bryce Company on credit terms n/45. May 12 Received $1,225 cash from J. Dryer to pay for the purchase of May 7. May 16 Sold used store equipment (noninventory) for $900 cash to Golf, Incorporated. May 19 The company paid salaries of $2,450 in cash. May 25 The owner contributed $8,890 cash to the company. Q 18 < Prev G Search or type URL Journal 8 of 10 Next Next tv A Aa D Help
File Edit View History Bookmarks Profiles Tabl Window Help Inbox (2 x MACC101 x (4726) IF X Account x Account X M Question X WiConnect x Content xM SmartBo X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu %252Fwebapps%252Fbla apter 7 Quiz 8 2.12 oints Mc Graw Hill Saved Exercise 7-2 (Algo) Identifying journal of entry LO P1, P2, P3, P4 Finer Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Identify the journal in which each of the transactions should be recorded. Date Transaction May 2 The company purchased $15,340 of merchandise on credit from Bryant Company terms n/10. May 5 Sold merchandise costing $300 to B. Facer for $450 cash, invoice number 5703. May 7 Paid salary of $6,800 to J. Terry by issuing check number 543. May 8 Purchased $830 of store supplies from Bryce Company on credit terms n/45. May 12 Received $1,225 cash from J. Dryer to pay for the purchase of May 7. May 16 Sold used store equipment (noninventory) for $900 cash to Golf, Incorporated. May 19 The company paid salaries of $2,450 in cash. May 25 The owner contributed $8,890 cash to the company. Q 18 < Prev G Search or type URL Journal 8 of 10 Next Next tv A Aa D Help
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu %252Fwebapps%252Fbla
apter 7 Quiz
8
2.12
oints
Mc
Graw
Hill
Saved
Exercise 7-2 (Algo) Identifying journal of entry LO P1, P2, P3, P4
Finer Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Identify the
journal in which each of the transactions should be recorded.
Date
Transaction
May 2 The company purchased $15,340 of merchandise on credit from Bryant Company terms n/10.
May 5 Sold merchandise costing $300 to B. Facer for $450 cash, invoice number 5703.
May 7 Paid salary of $6,800 to J. Terry by issuing check number 543.
May 8 Purchased $830 of store supplies from Bryce Company on credit terms n/45.
May 12 Received $1,225 cash from J. Dryer to pay for the purchase of May 7.
May 16 Sold used store equipment (noninventory) for $900 cash to Golf, Incorporated.
May 19 The company paid salaries of $2,450 in cash.
May 25 The owner contributed $8,890 cash to the company.
Q
18
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