Essay
Given below are the transactions for B. Stern Company. For each transaction state the account(s) to be debited and account(s) to be credited and indicate the journal in which each transaction should be recorded. Indicate (P) for purchase journal, (CP) for cash payments, or (GJ) for general journal in the column headed journal.
| Debit | Credit | Journal | ||
| Supplies | Accts. Pay. | ___P___ | 0. | Purchased supplies on account |
| ________ | ________ | ________ | a. | Purchased merchandise on account. |
| ________ | ________ | ________ | b. | Paid utilities expense. |
| ________ | ________ | ________ | c. | Purchased merchandise for cash. |
| ________ | ________ | ________ | d. | Returned half of goods purchased in a. |
| _______ | ________ | ________ | e. | Showers made a withdrawal of cash. |
| ________ | ________ | ________ | f. | Purchased store equipment on account. |
| ________ | ________ | ________ | g. | Paid for purchases in a., less return within the period. |
Correct Answer:
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Debit Credit Journal
a. Purchases Accts....View Answer
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Correct Answer:
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a. Purchases Accts....
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