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Indicate journalising in special journals. Below are some typical transactions incurred by Rotunda Printworks. 1. Payment of creditors on account. 2. Return of inventory sold
Indicate journalising in special journals. Below are some typical transactions incurred by Rotunda Printworks. 1. Payment of creditors on account. 2. Return of inventory sold for credit. 3. Collection from customers for amounts owing on account. 4. Sale of land for cash. 5. Sale of inventory on credit. 6. Sale of inventory for cash. 7. Received credit for inventory originally purchased on credit. 8. Discount allowed for early payment by customer. 9. Payment of employee wages. 10. Profit or loss summary closed to capital account. 11. Depreciation on building. 12. Purchase of office supplies for cash. 13. Purchase of inventory on account. Required For each transaction, indicate whether it would normally be recorded in a cash receipts journal, cash payments journal, sales journal, single-column purchases journal, or a general journal
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