
(a)
Sales Journal: A sales journal is a special journal which records the credit sales transactions and the transactions which are of sales on account.
Purchases Journal: A purchases journal is that special journal which is made to record the credit purchases and the purchases made on the account in a business.
General journal: A general journal is that journal which records those transactions which are not recorded in the special journal. The closing, correcting and
To journalize: The transactions in the purchases journal, a sales journal and a general journal.
(b)
To prepare: The general and subsidiary ledger accounts and then posting the transactions in it.
(c)
The balance agreement of the control account and the subsidiary account.

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Chapter 7 Solutions
Accounting Principles - Standalone book
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