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Concept explainers
1.
Special Journal: It is a book where only specific type of monetary transactions such as cash receipts, cash payments, credit sales, and credit purchases are recorded.
Sales Journal: It is a special book where only sales transactions that are sold to customer on credit are recorded.
Purchase Journal: It is a special book where only purchase transactions that are purchased from suppliers on credit are recorded.
Cash Receipts Journal: It is a special book where only cash receipts transactions that are received from customers or other sources are recorded.
Cash Payments Journal: It is a special book where only cash payments transactions that are paid to the supplier or other sources are recorded.
General Journal: It is a book where all the monetary transactions are recorded in the form of
To record: The transactions in a sales journal.
2.
To calculate: Total each column of the sales journal.
3.
To show: How posting would be made by writing the accounts numbers and check marks in the journals.
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Chapter C Solutions
Horngren's Financial & Managerial Accounting (5th Edition)
- Financial AccountingAccountingISBN:9781305088436Author:Carl Warren, Jim Reeve, Jonathan DuchacPublisher:Cengage LearningCollege Accounting (Book Only): A Career ApproachAccountingISBN:9781337280570Author:Scott, Cathy J.Publisher:South-Western College Pub
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