Principles of Financial Accounting.
Principles of Financial Accounting.
24th Edition
ISBN: 9781260158601
Author: Wild
Publisher: MCG
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Chapter 7, Problem 5QS
To determine

To identify the journal in which the transaction should be recorded.

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16) Name the special journal which is used to record the credit sales transactions of a merchandising business? a. Purchases daybook b. General journal c. Cash payments book d. Sales daybook Clear my choice
Fiona sporty uses to purchases journal a cash payment journal ,a sale journal and a general journal indicate which journal the following transactions are most likely to be recorded  Purchased inventories on credit  Sales of inventory on credit  Received payment of customer accounts Payment of monthly rent by cheque  End of period closing enteries
Villar Co. uses special journals and a general journal.Identify the journal in which each of the following transactions is recorded assuming a one-column purchases journal.     Transactions   Journals a.   Purchased equipment on account.   select a type of journal  General Journal Cash Payments Journal Purchases Journal Cash Receipts Journal Sales Journal b.   Purchased merchandise on account.   select a type of journal  Cash Receipts Journal Sales Journal Purchases Journal General Journal Cash Payments Journal c.   Paid utility expense in cash.   select a type of journal  Cash Payments Journal General Journal Cash Receipts Journal Sales Journal Purchases Journal d.   Sold merchandise on account.   select a type of journal  Sales Journal Cash Payments Journal General Journal Purchases Journal Cash Receipts Journal
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