Solved

A Company Entered into the Following Transactions

Question 26

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:

Responses:

Paid a utility bill for $3,400 cash

Cash Disbursements Journal

Purchased $1,590 of store supplies on account

Purchases Journal

Recorded depreciation on store equipment of $4,000

General Journal

Paid $65,000 cash for wages and salaries

Cash Receipts Journal

Recorded cash sales of $14,700

Sales Journal

A customer returned a $250 item purchased on account

Borrowed $5,000 cash from the bank

Purchased merchandise on account, $2,700

Purchased a display rack on account for $4,700

Returned defective inventory purchased on account, $2,900

Premises:

Paid a utility bill for $3,400 cash

Purchased $1,590 of store supplies on account

Recorded depreciation on store equipment of $4,000

Paid $65,000 cash for wages and salaries

Recorded cash sales of $14,700

A customer returned a $250 item purchased on account

Borrowed $5,000 cash from the bank

Purchased merchandise on account, $2,700

Purchased a display rack on account for $4,700

Returned defective inventory purchased on account, $2,900

Responses:

Cash Disbursements Journal

Purchases Journal

General Journal

Cash Receipts Journal

Sales Journal

Correct Answer:

Premises:

Responses:

Paid a utility bill for $3,400 cash

Purchased $1,590 of store supplies on account

Recorded depreciation on store equipment of $4,000

Paid $65,000 cash for wages and salaries

Recorded cash sales of $14,700

A customer returned a $250 item purchased on account

Borrowed $5,000 cash from the bank

Purchased merchandise on account, $2,700

Purchased a display rack on account for $4,700

Returned defective inventory purchased on account, $2,900