2. Receipt of promissory note from customers in settlement of open accounts. 3. Estimate of uncollectible accounts. 4. Returns and allowances for merchandise sold for cash. 5. Issuance of promissory note for loan proceeds from bank. 6. Initial investments : cash and merchandise. 7. Sold merchandise, C.O.D. 8. Purchased office supplies on account. 9. Withdrawal of merchandise for personal use. 10. Depreciation of fixed assets. 11. Paid salary of employees. 12. Paid 50% of the account in No. 8 above. 13. Sold merchandise. Collected ½ and received a note for the balance.. 14. Payment of expenses. 15. Paid freight for merchandise sold. 16. Payment to suppliers for merchandise bought on account. 17. Purchase of land on account. 18. Bought merchandise. Paid ½ and issued a 30-day note for the balance. 19. Payment of interest due on bank loans. 20. Refund from suppliers 21. Returns and allowances for merchandise purchased on account. 22. Accrual of income. 23. Additional investment in the form of equipment.

2. Receipt of promissory note from customers in settlement of open accounts. 3. Estimate of uncollectible accounts. 4. Returns and allowances for merchandise sold for cash. 5. Issuance of promissory note for loan proceeds from bank. 6. Initial investments : cash and merchandise. 7. Sold merchandise, C.O.D. 8. Purchased office supplies on account. 9. Withdrawal of merchandise for personal use. 10. Depreciation of fixed assets. 11. Paid salary of employees. 12. Paid 50% of the account in No. 8 above. 13. Sold merchandise. Collected ½ and received a note for the balance.. 14. Payment of expenses. 15. Paid freight for merchandise sold. 16. Payment to suppliers for merchandise bought on account. 17. Purchase of land on account. 18. Bought merchandise. Paid ½ and issued a 30-day note for the balance. 19. Payment of interest due on bank loans. 20. Refund from suppliers 21. Returns and allowances for merchandise purchased on account. 22. Accrual of income. 23. Additional investment in the form of equipment.

Name: SALES (SJ), PURCHASES JOURNAL (PJ), CASH RECEIPTS JOURNAL (CRJ), CASH
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Description: SALES (SJ), PURCHASES JOURNAL (PJ), CASH RECEIPTS JOURNAL (CRJ), CASHDISBURSEMENTS JOURNAL (CDJ) OR GENERAL JOURNAL (GJ)USE CODES...1. Issuance of check in payment of account.2. Receipt of promissory note from customers in settlement of open account

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 4EA: For each of the transactions, state which special journal (sales journal, cash receipts journal,...

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