For each of the following, state the journal that should be used - Sales Journal, Purchases...
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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. 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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Journal Entries Transaction Journal 1 Invested cash in business 100000 Cash Receipts Journal 2 Withd... View the full answer
Related Book For
College Accounting Chapters 1-30
ISBN: 978-0077862398
14th edition
Authors: John Price, M. David Haddock, Michael Farina
Posted Date:
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