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For Each of the Transactions Listed Below, Identify the Journal

Question 63

Short Answer

For each of the transactions listed below, identify the journal that should be used to record the transaction. Use CR for cash receipts journal, CP for cash payments journal, S for sales journal, P for purchases journal, and G for general journal.
A. Accepted a return of merchandise from a credit customer
B. Collected sums on account from credit customers
C. Gave an allowance for damaged merchandise
D. Purchased merchandise on credit
E. Received an additional cash investment from the owner
F. Sold merchandise for cash
G. Sold merchandise on credit
H. Issued a check to pay a creditor on account

Correct Answer:

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(A) G, (B) CR, (C) G...

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