Week 6

Fiona Sporty uses a purchases journal, a cash payments journal, a sales journal, a cash receipts journal and a general journal. Indicate in which journals the following transactions are most likely to be recorded.

a) Purchased inventories on credit (2 marks)

b) Sales of inventory on credit (2 marks)

c) Received payment of a customers account (2 marks)

d) Payment of monthly rent by cheque (2 marks)

e) End of period closing entries (2 mark