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Exercise 7-7 Identifying journal of entry LO C2 Marx Supply uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal,
Exercise 7-7 Identifying journal of entry LO C2
Marx Supply uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of April. Identify the journal in which each transaction should be recorded.
Journal Date Transaction April 3 Purchased merchandise for $2,950 on credit from Seth, Inc., terms 2/10, n/30. 9 Issued check no. 210 to Kitt Corp. to buy store supplies for $650. 12 Sold merchandise costing $500 on credit to C. Myrs for $770, terms n/30. 17 Issued check no. 211 for $1,400 to pay off a note payable to City Bank. 20 Purchased merchandise for $4,500 on credit from Lite, terms 2/10, n/30. 28 Issued check no. 212 to Lite to pay the amount due for the purchase of April 20 less the discount. 29 Paid salary of $1,800 to B. Dock by issuing check no. 213. 30 Issued check no. 214 to Seth, Inc., to pay the amount due for the purchase of April 3Step by Step Solution
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