Matching
A company entered into the following transactions. Match each transaction with the appropriate journal. The journals can be used one time, zero times, or more than one time if necessary.
Premises:
Purchased a display rack on account for $4,700.
Paid a utility bill for $3,400 cash.
Returned defective inventory purchased on account, $2,900.
Borrowed $5,000 cash from the bank.
Purchased merchandise on account, $2,700.
Recorded depreciation on store equipment of $4,000.
A customer returned a $250 item purchased on account.
Purchased $1,590 of store supplies on account.
Recorded cash sales of $14,700.
Paid $65,000 cash for wages and salaries.
Responses:
Sales journal
Cash disbursements journal
Purchases journal
General journal
Cash receipts journal
Correct Answer:
Premises:
Responses:
Purchased a display rack on account for $4,700.
Paid a utility bill for $3,400 cash.
Returned defective inventory purchased on account, $2,900.
Borrowed $5,000 cash from the bank.
Purchased merchandise on account, $2,700.
Recorded depreciation on store equipment of $4,000.
A customer returned a $250 item purchased on account.
Purchased $1,590 of store supplies on account.
Recorded cash sales of $14,700.
Paid $65,000 cash for wages and salaries.
Premises:
Purchased a display rack on account for $4,700.
Paid a utility bill for $3,400 cash.
Returned defective inventory purchased on account, $2,900.
Borrowed $5,000 cash from the bank.
Purchased merchandise on account, $2,700.
Recorded depreciation on store equipment of $4,000.
A customer returned a $250 item purchased on account.
Purchased $1,590 of store supplies on account.
Recorded cash sales of $14,700.
Paid $65,000 cash for wages and salaries.
Responses:
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