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A Company Entered into the Following Transactions

Question 56

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A company entered into the following transactions.For each transaction,indicate the appropriate journal in which it would be recorded.
Transaction Record in   Journal 1. Borrowed cash from the bank.  2. Purchased merchandise for cash.  3. Paid cash to settle the utility bill.  4. Customer sent in cash to settle an account receivable.  5. Purchased merchandise on credit.  6. Recorded depreciation for the period.  7. Sold merchandise on credit.  8. Sold merchandise for cash.  9. Bought store supplies for cash.  10. Owner invested more cash in the business. \begin{array}{|l|l|}\hline\text{\quad\quad\quad\quad\quad\quad\quad\quad\quad Transaction }&\text{Record in \underline{ \quad} Journal}\\\hline\text{ 1. Borrowed cash from the bank. }\\\hline\text{ 2. Purchased merchandise for cash. }\\\hline\text{ 3. Paid cash to settle the utility bill. }\\\hline\text{ 4. Customer sent in cash to settle an account receivable. }\\\hline\text{ 5. Purchased merchandise on credit. }\\\hline\text{ 6. Recorded depreciation for the period. }\\\hline\text{ 7. Sold merchandise on credit. }\\\hline\text{ 8. Sold merchandise for cash. }\\\hline\text{ 9. Bought store supplies for cash. }\\\hline\text{ 10. Owner invested more cash in the business. }\\\hline\end{array}

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