Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2 A company entered into the following transactions. Match each transaction with the appropriate journal. a. Sales journal b. Purchases journal c. Cash receipts journal

image text in transcribed
2 A company entered into the following transactions. Match each transaction with the appropriate journal. a. Sales journal b. Purchases journal c. Cash receipts journal d. Cash payments journal e. General journal 1. A customer returned a $250 item purchased on account. 2. Purchased a display rack on account for $4,700. 3. Borrowed $5,000 cash from the bank. 4. Recorded depreciation on store equipment of $4,000,-> 5. Recorded cash sales of $14,700. Sales orre) 6. Paid $65,000 cash in wages and salaries. Cash pa rnent sou 7. Paid a utility bill for $3,400 cash. Cash payment ipor nel 8. Purchased $1,590 of store supplies on account. 9. Purchased merchandise on account, $2,700. 10. Returned defective inventory purchased on account, $2,900

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Implementing And Auditing The Internal Control System

Authors: D. Chorafas

1st Edition

0333929365, 9780333929360

More Books

Students also viewed these Accounting questions

Question

=+b) What does it mean, in this context?

Answered: 1 week ago

Question

Explain all drawbacks of application procedure.

Answered: 1 week ago