Wilcox Electronics uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal,

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Wilcox Electronics uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal as illustrated in this chapter. Wilcox recently completed the following trans¬ actions a through h. Identify the journal in which each transaction should be recorded.

a. Sold merchandise on credit.

e. Sold merchandise for cash.

b. Purchased shop supplies on credit.

f. Purchased merchandise on credit.

c. Paid an employee’s salary in cash. g. Purchased inventory for cash.

d. Borrowed cash from the bank. h. Paid cash to a creditor.

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    Fundamental Accounting Principles Volume 2

    ISBN: 9780077716660

    21st Edition

    Authors: John Wild, Ken Shaw, Barbara Chiappetta

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