Question
Happy House Bakeshop uses a cash receipts journal, a sales journal, purchases journal, cash disbursements journal, cash receipts journal, and a general journal.1. Identify which
Happy House Bakeshop uses a cash receipts journal, a sales journal, purchases journal, cash disbursements journal, cash receipts journal, and a general journal.1. Identify which journal should be used to record each of the following transactions?A. Adjusting entry to record depreciationB. Purchase of baking equipment on creditC. Sale of merchandise on creditD. Sale of merchandise for cashE. Cash refund to a customer who returned a product that was purchasedF. Return of merchandise to a vendor that was damageG. Payment of property taxesH. Purchase of a delivery van for cashI. Purchase of merchandise on credit2. Explain how special journals can benefit accounting personnel.3. Explain what you have learned about companies using special journals.4. What information covered in Unit 4 interest you most and why?
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