Assuming the use of a two-column general journal, a purchases journal, and a cash payments journal as illustrated in this chapter, indicate the journal in which each of the following transactions should be recorded:a. Purchase of office supplies on account.b. Purchase of supplies for cash.c. Purchase of store equipment on account.d. Payment of cash on account to creditor.e. Payment of cash for office supplies.
Assuming the use of a two-column general journal, a purchases journal, and a cash payments journal as illustrated in this chapter, indicate the journal in which each of the following transactions should be recorded:a. Purchase of office supplies on account.b. Purchase of supplies for cash.c. Purchase of store equipment on account.d. Payment of cash on account to creditor.e. Payment of cash for office supplies.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Assuming the use of a two-column general journal, a purchases journal, and a cash payments journal as illustrated in this chapter, indicate the journal in which each of the following transactions should be recorded:
a. Purchase of office supplies on account.
b. Purchase of supplies for cash.
c. Purchase of store equipment on account.
d. Payment of cash on account to creditor.
e. Payment of cash for office supplies.
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