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A Company Entered into the Following Transactions

Question 169

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 Receipts Journal

Purchased $1,590 of store supplies on account

Cash Disbursements Journal

Purchased a display rack on account for $4,700

Sales Journal

Paid $65,000 cash for wages and salaries

Purchases Journal

Borrowed $5,000 cash from the bank

General Journal

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

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:

Premises:

Responses:

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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