Cosey Company uses the columnar cash journals illustrated in the textbook. In April, the following selected cash

Question:

Cosey Company uses the columnar cash journals illustrated in the textbook. In April, the following selected cash transactions occurred.
1. Made a refund to a customer for the return of damaged goods.
2. Received collection from customer within the 3% discount period.
3. Purchased merchandise for cash.
4. Paid a creditor within the 3% discount period.
5. Received collection from customer after the 3% discount period had expired.
6. Paid freight on merchandise purchased.
7. Paid cash for office equipment.
8. Received cash refund from supplier for merchandise returned.
9. Paid cash to stockholders.
10. Made cash sales.

Instructions
Indicate (a) the journal, and (b) the columns in the journal that should be used in recording each transaction.

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...