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A Company Entered into the Following Transactions

Question 139

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A company entered into the following transactions. For each transaction, indicate the appropriate journal in which it should be recorded.

Premises:
Sold merchandise for cash.
Received cash from a customer to settle an account receivable.
Sold merchandise on credit.
Borrowed cash from the bank.
Bought office supplies on credit.
Paid cash to settle the utility bill.
Purchased merchandise for cash.
Purchased merchandise on credit.
Owner invested more cash in the business.
Recorded depreciation for the period.
Responses:
General Journal
Purchases Journal
Sales Journal
Cash Disbursements Journal
Cash Receipts Journal

Correct Answer:

Sold merchandise for cash.
Received cash from a customer to settle an account receivable.
Sold merchandise on credit.
Borrowed cash from the bank.
Bought office supplies on credit.
Paid cash to settle the utility bill.
Purchased merchandise for cash.
Purchased merchandise on credit.
Owner invested more cash in the business.
Recorded depreciation for the period.
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