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Wick Company uses the columnar cash journals illustrated in the textbook. In April, the following selected cash transactions occurred. Made a refund to a customer
Wick Company uses the columnar cash journals illustrated in the textbook. In April, the following selected cash transactions occurred. Made a refund to a customer for the return of damaged goods. Received collection from customer within the 3% discount period. Purchased merchandise for cash. Paid a creditor within the 3% discount period. Received collection from customer after the 3% discount period had expired. Paid freight on merchandise purchased. Paid cash for office equipment. Received cash refund from supplier for merchandise returned. Withdrew cash for personal use of owner. Made cash sales. Instructions Indicate the journal and the columns in the journal that should be used in recording each transaction. For the columns in the journal portion of the answer using the appropriate letter from the choices shown below. Cash (Cr.), Other Accounts (Dr.) Cash (Dr.), Sales Discounts (Dr.), and Accounts Receivable (Cr.) Cash (Dr.), Accounts Receivable (Cr.) Cash (Dr.), Sales (Cr.), Cost of Goods Sold (Dr.), and Merchandise Inventory (Cr.) Cash (Cr.), Merchandise Inventory (Cr.), and Accounts Payable (Dr.) Cash (Dr.), Other Accounts (Cr.) Cash (Cr.), Sales Discounts (Cr.), and Accounts Receivable (Dr.) Cash (Cr.), Accounts Receivable (Dr.) Cash (Cr.), Sales (Dr.), Cost of Goods Sold (Cr.), and Merchandise Inventory (Dr.) Cash (Dr.), Merchandise Inventory (Dr.), and Accounts Payable (Cr.)
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