Essay
The following are selected transactions for P. Pratt Company. For each transaction, indicate the account(s) to be debited and the account(s) to be credited. Also indicate in which of the following journals each transaction will be recorded Sales Journal (S), Cash Receipts Journal (CR), or General Journal (GJ).
| Account(s) | Account(s) | |||
| Debit | Credit | Journal | ||
| ________ | ________ | ________ | a. | Sold merchandise on account to M. Mahar. |
| ________ | ________ | ________ | b. | P. Pratt invested additional cash in the business |
| ________ | ________ | ________ | c. | Received payment from M. Mahar. No discount was given. |
| ________ | ________ | ________ | d. | Made a cash sale. |
| ________ | ________ | ________ | e. | Issued a credit memo to B. Briggs. Goods returned to inventory. |
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Account(s) Account(s)
Debit Credit Journ...View Answer
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