Question
For each of the following, state the journal that should be used - Sales Journal, Purchases Journal, Cash Receipts Journal, Cash Payments Journal, General Journal.
For each of the following, state the journal that should be used - Sales Journal, Purchases Journal, Cash Receipts Journal, Cash Payments Journal, General Journal.
1) Invested cash in business, $100,000.
2) Withdrew cash for personal use, $1000.
3) Sold merchandise on account, $950
4) Purchased merchandise on account. $500.
5) Refer to #3. The customer returned the merchandise.
6) Refer to #4. You return the merchandise to the supplier.
7) You sold merchandise for cash, $1200, plus sales tax , $200.
8) You purchased merchandise for cash, $2000.
9) Refer to #7. The customer returns the merchandise.
10) Refer to #8. You return the merchandise to the supplier.
11) Purchased equipment for cash, $5000
12) Paid electric bill, $200.
13) Paid secretary's wages, $1000.
14) Paid $600 for advertising.
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