Identify the special journal(s) in which the following column headings appear.     Column Headings   Special Journals a.   Accounts Payable Dr.                                                              Purchases JournalCash Receipts Journal and Cash Payments Journal and Sales JournalCash Receipts JournalGeneral JournalCash Payments JournalCash Payments Journal and Sales JournalCash Receipts Journal and Purchases JournalSales Journal b.   Cash Cr.                                                              Sales JournalCash Payments JournalCash Receipts Journal and Purchases JournalCash Receipts Journal and Cash Payments Journal and Sales JournalPurchases JournalGeneral JournalCash Receipts JournalCash Payments Journal and Sales Journal c.   Inventory Cr.                                                              Cash Receipts Journal and Cash Payments Journal and Sales JournalGeneral JournalCash Receipts Journal and Purchases JournalPurchases JournalCash Receipts JournalCash Payments JournalCash Payments Journal and Sales JournalSales Journal d.   Inventory Dr., Accounts Payable Cr.                                                              Cash Receipts JournalCash Receipts Journal and Purchases JournalCash Receipts Journal and Cash Payments Journal and Sales JournalCash Payments JournalCash Payments Journal and Sales JournalSales JournalGeneral JournalPurchases Journal

Q: Using the five journals as named here: • Sales, Purchases, Cash Receipts, Cash Disbursements, and…

A: Purchase Journal Date Vendor  Account…

Q: Documents and files related to initiating credit sales would be customer master file and sales…

A: Credit sales are those where the remaining balance is to be paid at a later time. Put differently,…

Q: Which of the following documents will only be used for internal purposes? Deposit Slip Bill of…

A: Question-     WHICH OF THE FOLLOWING DOCUMENT WILL  BE USED FOR INTERNAL PURPOSE -   - PURHCASE…

Q: What is the posting procedure for the sales journal?

A: Sales journal is used to record the entries related to only credit sales includes goods and services…

Q: -What is the journal entry for recording credit sales? a. Sales Dr. and Accounts Receivable Cr b.…

A: Journal entry is an important and attentive process of accounting cycle through the help of journal…

Q: You just posted a credit to Accounts Receivable. Which special journal did it come from? cash…

A: Sales are made on cash and credit basis. The amount to be collected from sales made on credit basis…

Q: Business incurred travelling cost of OMR 50. Which of the following specialized journals will record…

A: The answer is option (d.) [ cash payment journal] Refer step 2 for explanation

Q: Consider the following information items as you respond to the question: i. Customer master file…

A: The five basic elements of AIS system are: 1. Output 2. Input 3. Storage 4. Internal control 5.…

Q: 815. Credit note is the basis for recording a transaction in which of the following journals? O…

A: Journal being recording the business transactions for the first time are also known as books of…

Q: . A journal designed for entering only sales on account is called the A. General journal B. Cash…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: The process of comparing the debit and credit column totals of a journal for equality is an example…

A: Eliminating the incorrect options:a. Reconciling: Reconciling involves resolving discrepancies or…

Q: After each amount is posted from the cash receipts Journal to the general ledger, O the Journal…

A: Cash receipts JournalIn a cash receipts journal, all cash received from customers is recorded.A cash…

Q: Rent A/c Debit; Cash A/c Credit. For this Journal, which item will appear on the Credit side of Cash…

A: Ledgers are used for classifying the recorded general journal entries into separate account like…

Q: Question 4 Explain briefly on the following: i) ii) iii) iv) Sales Journal Purchase journal Cash…

A: Briefly explanation about sales journal, purchase journal, cash receipt journal cash , payment…

Q: BEJ-6 Identify the special journal(s) in which the following column headings appear. (a) Sales…

A: Companies use special journals to record repetitive transactions that affect the same set of…

Q: Fiona Sportyuses a purchases journal, a cash payments journal, a sales journal, a cash receipts…

A: Everyday businessman performs large number of transactions. These transactions cannot be remembered…

Q: The Accounts Receivable subsidiary ledger is updated (increased and decreased) by using which of the…

A: Accounts Receivables - Accounts Receivables are the amount unpaid by the customer for the service…

Q: A sales on account transaction is recorded: a. in the general journal after it has been recorded in…

A: The question is asking about the correct procedure for recording a sales on account transaction in…

Q: DMMC INSTITUTE OF HEALTH SCIENCES FUNDAMENTALS OF ACCOUNTING, BUSINESS AND MANAGEMENT 2 FINAL…

A:

Q: Which of the following would not be an appropriate heading for a column in the cash receipts…

A: Answer to Question: C) Creditors…

Q: Using the five journals as named here: • Sales, Purchases, Cash Receipts, Cash Disbursements, and…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: ledger

A: A   COGS A/c    Dr        To Purchase A/c     B    A general ledger is an accounting record book in…

Q: hich of the following accounts is closed by debiting the account

A: Nominal Accounts are closed at the end of the period by transferring the balances to profit and loss

Q: The Kingdom Company uses a sales journal and a cash receipts jourmal to record transactions with its…

A: Journal entry - It refers to the process where the business transactions are recorded in the books…

Q: Using the five journals as named here: • Sales, Purchases, Cash Receipts, Cash Disbursements, and…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is