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Poole Company maintains four special journals and a general journal to record its transactions. Indicate the appropriate journal for recording the transactions listed. 1. Mr.
Poole Company maintains four special journals and a general journal to record its transactions. Indicate the appropriate journal for recording the transactions listed.
| 1. | Mr. Richey Poole invested cash in the business. | Sales journalGeneral journalCash payments journalSingle-column purchases journalCash receipts journal | ||
| 2. | Purchased store supplies on account. | Sales journalGeneral journalSingle-column purchases journalCash receipts journalCash payments journal | ||
| 3. | Sold merchandise to customer on account. | General journalCash payments journalCash receipts journalSingle-column purchases journalSales journal | ||
| 4. | Purchased a 2-year fire insurance policy for cash. | Cash payments journalGeneral journalCash receipts journalSingle-column purchases journalSales journal | ||
| 5. | Received a check from a customer as payment on account. | Cash payments journalGeneral journalSingle-column purchases journalCash receipts journalSales journal | ||
| 6. | Paid for store supplies purchased in transaction 2. | Sales journalSingle-column purchases journalGeneral journalCash payments journalCash receipts journal | ||
| 7. | Purchased merchandise on account. | Cash receipts journalSales journalCash payments journalGeneral journalSingle-column purchases journal | ||
| 8. | Issued a credit memorandum to a customer who returned defective merchandise previously sold on account. | Cash payments journalSales journalCash receipts journalSingle-column purchases journalGeneral journal | ||
| 9. | Purchased office equipment for cash. | Cash receipts journalSales journalGeneral journalCash payments journalSingle-column purchases journal | ||
| 10. | Made an adjusting entry for store supplies used during the period. | Cash payments journalCash receipts journalSingle-column purchases journalSales journalGeneral journal |
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475
