Explanation Journal entry for the transactions which are recorded in the general journal Date Particulars Debit Credit Nov. 12 Automobiles $17,000 Capital $17,000 19 Sales Returns and Allowances $175 Accounts Receivable – K...

23rd Edition

ISBN: 9781259536359

Author: John J Wild, Ken Shaw Accounting Professor, Barbara Chiappetta Fundamental Accounting Principles

Publisher: McGraw-Hill Education

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Question

Chapter 7, Problem 4QS

To determine

Journal entry:

A journal entry is a standardized technique of recording business transaction in accountancy.

General Journal:

The transactions which are not recorded in the special journals namely, sales journal, purchase journal, cash receipt journal, and cash disbursement journal are recorded in the general journal.

Sales Journal:

The journal where all the credit sales of merchandise are recorded is called a Sales Journal.

Purchases Journal:

It is the journal where all the purchase on accounts or credit purchase of merchandise, supplies, equipment etc. are recorded.

To determine:

Entries in the general journal and identification of transactions which are not recorded in the general journal

Expert Solution & Answer

Chapter 7 Solutions

Fundamental Accounting Principles

Ch. 7 - Prob. 1DQ Ch. 7 - Prob. 2DQ Ch. 7 - What are the five fundamental principles of...Ch. 7 - Prob. 4DQ Ch. 7 - Prob. 5DQ Ch. 7 - Prob. 6DQ Ch. 7 - Prob. 7DQ Ch. 7 - Prob. 8DQ Ch. 7 - Prob. 9DQ Ch. 7 - Prob. 10DQ

Ch. 7 - Prob. 11DQ Ch. 7 - Prob. 12DQ Ch. 7 - Prob. 13DQ Ch. 7 - Prob. 14DQ Ch. 7 - Prob. 15DQ Ch. 7 - Prob. 1QS Ch. 7 - Prob. 2QS Ch. 7 - Prob. 3QS Ch. 7 - Prob. 4QS Ch. 7 - Controlling accounts and subsidiary ledgers C3...Ch. 7 - Prob. 6QS Ch. 7 - Prob. 7QS Ch. 7 - OS 7-8 Accounts receivable ledger posting from...Ch. 7 - Prob. 9QS Ch. 7 - Prob. 10QS Ch. 7 - Prob. 1E Ch. 7 - Prob. 2E Ch. 7 - Prob. 3E Ch. 7 - Prob. 4E Ch. 7 - Prob. 5E Ch. 7 - Prob. 6E Ch. 7 - Prob. 7E Ch. 7 - Prob. 8E Ch. 7 - Prob. 9E Ch. 7 - Prob. 10E Ch. 7 - Prob. 11E Ch. 7 - Prob. 1APSA Ch. 7 - Prob. 2APSA Ch. 7 - Problem 7-3A Special journals, subsidiary ledgers,...Ch. 7 - Prob. 1BPSB Ch. 7 - Prob. 2BPSB Ch. 7 - Problem 7-3B Special journals, subsidiary ledgers,...Ch. 7 - Prob. 7SP Ch. 7 - Prob. 1CP Ch. 7 - Prob. 2CP Ch. 7 - Prob. 3CP Ch. 7 - Prob. 4CP Ch. 7 - Prob. 1GLP Ch. 7 - Prob. 1BTN Ch. 7 - Prob. 2BTN Ch. 7 - Prob. 3BTN Ch. 7 - Prob. 4BTN Ch. 7 - Prob. 5BTN Ch. 7 - Prob. 6BTN Ch. 7 - Refer to the chapter’s opening feature about...Ch. 7 - Prob. 8BTN

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