BTA 111 TEST 2 A.SPOLANSKY Principles of Accounting Problem 1 (20%) The Fields Company uses a two-column general journal, sales journal, multicolumn purchase journal, cash receipts journal and cash payments journal and records various selected transactions during October of the current year Oct. 1. Purchases of merchandise for cash. 3. Purchases of store equipment on account. 5. Payment of cash on account to creditor. 8. Return of portion of merchandise purchases on October 1 11. Sale of merchandise for cash. 16. Withdrawal of cash by owner. 18. Investment of additional cash in the business by the owner. 22. Sale of merchandise on account. 24. Issuance of credit memorandum to customers. 1 Clasine of the owner's drawing account at the end of the year. BTA 111 TEST 2 A.SPOLANSKY Principles of Accounting Problem 1 (20%) The Fields Company uses a two-column general journal, sales journal, multicolumn purchase journal, cash receipts journal and cash payments journal and records various selected transactions during October of the current year Oct. 1. Purchases of merchandise for cash. 3. Purchases of store equipment on account. 5. Payment of cash on account to creditor. 8. Return of portion of merchandise purchases on October 1 11. Sale of merchandise for cash. 16. Withdrawal of cash by owner. 18. Investment of additional cash in the business by the owner. 22. Sale of merchandise on account. 24. Issuance of credit memorandum to customers. 1 Clasine of the owner's drawing account at the end of the year