Match the correct journal book for each of the transactions. Activity 1. A. Cash Receipts Journal B. Cash Disbursement Journal C. Purchase Journal D. Sales Journal E. General Journal _1. Owner's cash investment _2. On account Sales _3. Payment of electric bill _4.Purchase of office supplies on account 5. Sold old office equipment on account _6. Sold inventory on account _7. Received but did not pay phone bill _8. Received proceeds of borrowed money from the bank _9. Returned goods from cash sales _10. Down payment made on purchase of merchandise. _11. A customer who bought merchandise on account returned the some defective items he receive. _12. The company issued check in payment of the merchandise purchased. _13. Received a check payment from a customer. _14. The company returned damaged goods purchased in cash from its supplier. _15. Owner invested her personal car in the business.

Match the correct journal book for each of the transactions. Activity 1. A. Cash Receipts Journal B. Cash Disbursement Journal C. Purchase Journal D. Sales Journal E. General Journal _1. Owner's cash investment _2. On account Sales _3. Payment of electric bill _4.Purchase of office supplies on account 5. Sold old office equipment on account _6. Sold inventory on account _7. Received but did not pay phone bill _8. Received proceeds of borrowed money from the bank _9. Returned goods from cash sales _10. Down payment made on purchase of merchandise. _11. A customer who bought merchandise on account returned the some defective items he receive. _12. The company issued check in payment of the merchandise purchased. _13. Received a check payment from a customer. _14. The company returned damaged goods purchased in cash from its supplier. _15. Owner invested her personal car in the business.

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Description: Match the correct journal book for each of the transactions.Activity 1.A. Cash Receipts JournalB. Cash Disbursement JournalC. Purchase JournalD. Sales JournalE. General Journal_1. Owner's cash investment_2. On account Sales3. Payment of electric bil

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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Concept explainers

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

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Question

Match the correct journal book for each of the transactions.
Activity 1.
A. Cash Receipts Journal
B. Cash Disbursement Journal
C. Purchase Journal
D. Sales Journal
E. General Journal
_1. Owner's cash investment
_2. On account Sales
3. Payment of electric bill
_4.Purchase of office supplies on account
_5. Sold old office equipment on account
_6. Sold inventory on account
_7. Received but did not pay phone bill
_8. Received proceeds of borrowed money from the bank
_9. Returned goods from cash sales
10. Down payment made on purchase of merchandise.
_11. A customer who bought merchandise on account returned the some
defective items he receive.
_12. The company issued check in payment of the merchandise purchased.
_13. Received a check payment from a customer.
_14. The company returned damaged goods purchased in cash from its
supplier.
15. Owner invested her personal car in the business.
21

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