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6. Indicate whichjoumal would be used to record the following transactions. Select from the following: Cash Receipts Joumal Cash Disbursements Joumal, Sales Joumal, Purchases Joumal, and General Joumal

6. Indicate whichjoumal would be used to record the following transactions. Select from the following: Cash Receipts Joumal Cash Disbursements Joumal, Sales Joumal, Purchases Joumal, and General Joumal

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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6. Indicatewhichjoumal would beusedto record the following transactions. Select from the followirng Cash Receipts Joumal Cash Disbursements Joumal, Sales Joumal Purchases Jourmal, and General Journal. a. Sold inventory for cash b.Sold inventory on account c Received cash a week after selling items on credit d Paid cash to purchase inventory e.Paid a cash dividend to shareholders £Sold sharesofstock for cash a. b. C. d. e. f. 2. Bought equipment forcash h Recorded anadjusting entry for supplies iPaid for a purchase of inventory on accontwithin the discount period i j Paid for a purchase ofinventory on account after the discount period haspassed, k. Bought inventory and agreed to paywithin the next 30 days 1 Receivedbut didnot pay the phone bill. Will pay in 20 days. m Retumed defective goods purchasedon credit to the supplier. The companyhadnotyet paid for them n. Jook out a loan fromthe bank o. Paid employeewages h. k. 1. 1. theconetinumalt
Transcribed Image Text:6. Indicatewhichjoumal would beusedto record the following transactions. Select from the followirng Cash Receipts Joumal Cash Disbursements Joumal, Sales Joumal Purchases Jourmal, and General Journal. a. Sold inventory for cash b.Sold inventory on account c Received cash a week after selling items on credit d Paid cash to purchase inventory e.Paid a cash dividend to shareholders £Sold sharesofstock for cash a. b. C. d. e. f. 2. Bought equipment forcash h Recorded anadjusting entry for supplies iPaid for a purchase of inventory on accontwithin the discount period i j Paid for a purchase ofinventory on account after the discount period haspassed, k. Bought inventory and agreed to paywithin the next 30 days 1 Receivedbut didnot pay the phone bill. Will pay in 20 days. m Retumed defective goods purchasedon credit to the supplier. The companyhadnotyet paid for them n. Jook out a loan fromthe bank o. Paid employeewages h. k. 1. 1. theconetinumalt
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