6. Indicatewhichjoumal would beusedto record the following transactions. Select from the followirng CashReceipts Joumal Cash Disbursements Joumal, Sales Joumal Purchases Jourmal, and General Journal.a. Sold inventory for cashb.Sold inventory on accountc Received cash a week after selling items on creditd Paid cash to purchase inventorye.Paid a cash dividend to shareholders£Sold sharesofstock for casha.b.C.d.e.f.2. Bought equipment forcashh Recorded anadjusting entry for suppliesiPaid for a purchase of inventory on accontwithin the discount period ij Paid for a purchase ofinventory on account after the discount periodhaspassed,k. Bought inventory and agreed to paywithin the next 30 days1 Receivedbut didnot pay the phone bill. Will pay in 20 days.m Retumed defective goods purchasedon credit to the supplier. Thecompanyhadnotyet paid for themn. Jook out a loan fromthe banko. Paid employeewagesh.k.1.1.theconetinumalt

Sales Journal – For all credit sales of inventory Purchase Journal – For all credit purchase of…

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Similar questions

Describe and use the cash receips journal. What steps are followed in posting from the cash receipts journal to the accounts receivable ledger?
All cash payments are recorded in: Sales Journal Cash Payments Journal Cash Receipts Journal General Journal
An invoice is generated in the cash receipts process.sales order creation process.shipping process.picking process.billing process.
The sales journal is used to record______. cash sales on account debit transactions credit cards
Transactions involved in the purchases and cash disbursements cycle include: A Debit inventory, credit cash B Debit inventory, credit accounts payable C Debit accounts payable, credit cash D All of these
A(n) electronic _____ is the electronic exchange of money or scrip. a. cash transfer b. array c. payment d. exchange
Which of the following documents associated with the purchases and cash disbursements cycle is most likely to lead to a journal entry that debits inventory and credits accounts payable? A Purchase requisition, purchase order and receiving report B Purchase order, receiving report and invoice C Purchase requisition, receiving report and invoice D None of these