Gates Company maintains four special journals and a general journal to record its transactions. Using the code below, indicate in the space provided the appropriate journal for recording the transactions listed.
Code Journals
S Sales journal
CR Cash receipts journal
CP Cash payments journal
P Single-column purchases journal
G General journal
1. Stockholders invested cash in the business.
2. Purchased store supplies on account.
3. Sold merchandise to customer on account.
4. Purchased a 2-year fire insurance policy for cash.
5. Received a check from a customer as payment on account.
6. Paid for store supplies purchased in transaction 2.
7. Purchased merchandise on account.
8. Issued a credit memorandum to a customer who returned defective merchandise previously sold on account.
9. Purchased office equipment for cash.
10. Made an adjusting entry for store supplies used during the period.

Question

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The Answer of Gates Company maintains four special journals and a general journal to record its transactions. Using the code below, indicate in the space provided the appropriate journal for recording the transactions listed.
Code Journals
S Sales journal
CR Cash receipts journal
CP Cash payments journal
P Single-column purchases journal
G General journal
1. Stockholders invested cash in the business.
2. Purchased store supplies on account.
3. Sold merchandise to customer on account.
4. Purchased a 2-year fire insurance policy for cash.
5. Received a check from a customer as payment on account.
6. Paid for store supplies purchased in transaction 2.
7. Purchased merchandise on account.
8. Issued a credit memorandum to a customer who returned defective merchandise previously sold on account.
9. Purchased office equipment for cash.
10. Made an adjusting entry for store supplies used during the period.

Gates Company Maintains Four Special Journals and a General Journal