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Concept explainers
Identifying special journals
Use the following abbreviations to indicate the journal in which you would record transactions a through n.
J = General journal
S = Sales journal
CR = Cash receipts journal
P = Purchases journal
CP = Cash payments journal
Transactions:
____ a. Cash purchase of merchandise inventory
____ b. Collection of dividend revenue earned on an investment
____ c. Prepayment of insurance
____ d. Borrowing money on a long-term note payable
____ e. Purchase of equipment on account
____ f. Cost of goods sold along with a credit sale
____ g. Cash sale of merchandise inventory
____ h. Payment of rent
____ i.
____ j. Purchase of merchandise inventory on account
____ k. Collection of
____ l. Expiration of prepaid insurance
____ m. Sale on account
____ n. Payment on account
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Chapter B Solutions
Horngren's Financial & Managerial Accounting, The Financial Chapters (6th Edition)
- Principles of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax CollegeCollege Accounting, Chapters 1-27AccountingISBN:9781337794756Author:HEINTZ, James A.Publisher:Cengage Learning,
- Century 21 Accounting Multicolumn JournalAccountingISBN:9781337679503Author:GilbertsonPublisher:Cengage
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