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Sunday, February 20, 2011

Using special journal to record transactions

Solution is available here for U$2

EXERCISE 12-1A    page 469-470









Assume that a business is using special journal to record many of its transactions. Identify the

journal in which each of the following transactions would be recorded.












Use the drop down menu to select:

Sales journal







Purchases journal







Cash receipts journal






Cash payments journal






General journal












(a)
Sold merchandise on account














(b)
Purchased delivery truck on account for use in the business.











(c)
Received payment from a customer on account.












(d)
Purchased merchandise on account.













(e)
Issued a check in payment of the electric bill.













(f)
Recorded depreciation of factory building.




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