Question
A company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. A perpetual inventory system is used. For
A company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. A perpetual inventory system is used. For each of the above transactions, specify which journal to record the above transactions. The following transactions were completed by the company during the current month of October: Sold merchandise for $6000 to the South corporation on credit, Invoice No. 1122 The cost of the goods sold is $3900 Sold a piece of land for $30,000 cash. That I had was originally purchased for $30,000. Purchased supplies from Office Helpers for $420 cash. Check No. 2795 Recorded depreciation on equipment for $12,000 Returned $330 of merchandise purchased from men Corp. for credit on account A. Cash Payment Journal a Sales Joumal c. Cash Receipt Joumal D. General Jouran E. Purchases Journal
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