Solved

A Company Entered into the Following Transactions

Question 177

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:
Paid a utility bill for $3,400 cash.
Purchased $1,590 of store supplies on account.
Purchased a display rack on account for $4,700.
Paid $65,000 cash for wages and salaries.
Borrowed $5,000 cash from the bank.
Returned defective inventory purchased on account, $2,900.
A customer returned a $250 item purchased on account.
Purchased merchandise on account, $2,700.
Recorded cash sales of $14,700.
Recorded depreciation on store equipment of $4,000.
Responses:
Cash receipts journal
Cash disbursements journal
Sales journal
Purchases journal
General journal

Correct Answer:

Paid a utility bill for $3,400 cash.
Purchased $1,590 of store supplies on account.
Purchased a display rack on account for $4,700.
Paid $65,000 cash for wages and salaries.
Borrowed $5,000 cash from the bank.
Returned defective inventory purchased on account, $2,900.
A customer returned a $250 item purchased on account.
Purchased merchandise on account, $2,700.
Recorded cash sales of $14,700.
Recorded depreciation on store equipment of $4,000.
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