Chapter 7, Problem S7.11SE

To determine

Introduction:

Journals: Journals are prepared to record business transactions. There are two types of journals:

1. Special Journals: Special journals record the recurring business tractions like sales, purchase, cash receipts and payments. Some special journals are as follows:

• Sales journal

• Sales Return Journal

• Purchase journal

• Purchase return journal

• Cash receipts journal

• Cash payment journal

2. General Journal: All the business transactions which do not belong to special journals are recorded using General journal.

Requirement-1:

To determine: The total for each column of Cash Payment journal

To determine

Requirement -2:

To determine: The four column accounts payable subsidiary ledgers

To determine

Requirement -3:

To determine: The four column general ledgers

To determine

Requirement -4:

To determine: The total of balances in accounts payable subsidiary ledgers and accounts payable ledger