Identify the journal (general, sales, purchases, cash receipts or cash payments journal) in which each of the following transactions is recorded.     Transactions   Journals a.   Cash sales.   select a type of journal   b.   Owner withdrawal of cash.   select a type of journal   c.   Cash purchase of land.   select a type of journal   d.   Credit sales.   select a type of journal   e.   Purchase of merchandise on account.   select a type of journal   f.   Receipt of cash for services performed.   select a type of journal

Q: Which of the following entries records the receipt of cash from clients on account? a.Accounts…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: he type of transaction that would appear in the sales journal would be a sale of equipment for cash…

A: Solution: The sales journal is an accounting journal which keeps records of all of the credit sales…

Q: Which of these transactions requires a debit entry to Cash?A. paid balance due to suppliersB. sold…

A: Cash is one of the asset held by the business, for which normal balance is debit balance. Any…

Q: Which of the following is always recorded in the general journal? a. services rendered for cash b.…

A: General journal means a book of prime entry where entry is recorded at first point in chronological…

Q: 1. The entries to adjust, close and reverse the books of accounts are appropriately recorded in…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: The entry to record collection of trade receivables under cash basis of accounting is*   debit to…

A: Following is the answer to the given question

Q: Match the following types of journal transactions with the journal in which they would be entered.…

A: Journal: Recording of a business transactions in a chronological order.

Q: For each of the transactions, state which special journal (sales journal, cash receipts journal,…

A: For each of the transactions, state which special journal (sales journal, cash receipts journal,…

Q: In which voucher from the accounting documents the money entering the cash of the business A)…

A: Accounting Voucher: These are used to record all account related transactions. They are of 2 types:…

Q: The sales journal records the daily transactions of a business pertaining to: O a. Sales…

A: Sales journal  records revenue from sale of  goods or services.

Q: The journal entry to record a particular business transaction includes a debit to a liability…

A: A journal entry is used to document a business transaction in the accounting records of a company. A…

Q: Which of the following is recorded in the cash receipts journal?

A: Answer:   Option C

Q: Identify the correct journal entry when cash is received from customers - periodic inventory system…

A:

Q: If a journal entry includes a debit or credit to the Cash account, it is most likely which of the…

A: Answer:  If a journal entry includes a debit or credit to the Cash account, it is most likely an…

Q: The entry to record collection of trade receivables under cash basis of accounting is A. debit to…

A: Under cash basis of accounting only cash transections are recorded such as cash collection, Cash…

Q: Analyze the following summary. Ignore HST. Complete the chart. Required Accounting Entry Nature of…

A: Entries are used to maintain track of the financial transactions. To generate a journal entry, you…

Q: The cash receipts journal is used to record all transactions that include a debit to the Cash…

A: A cash account is a trading account that mandates the account holder to pay for all securities…

Q: Fiona sporty uses to purchases journal a cash payment journal ,a sale journal and a general journal…

A: Journal entry: Journal entry is a set of economic events that can be measured in monetary terms.…

Q: When using a manual accounting information system, which of the following transactions would be…

A: Journal : A journal is a book of original entry where all the monetary transactions in the form of…

Q: Indicate in the table below where each of the following transactions would be posted by ticking (V)…

A: Sales journal records all credit sales. Purchases journal records all credit purchases. Cash…

Q: Identify the journal in which each of the following transactions is recorded. Transactions Journals…

A: Every journal entry we record in journals. There are types of journals like -  Cash payments journal…

Q: The questions to be answered are: Fiona Sporty uses a purchases journal, a cash payments journal, a…

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

Q: Recording Transactions in the Proper Journal Select the journal (sales, cash receipts, purchases,…

A: The answer for the question on recording transactions in proper Journal is presented hereunder :

Q: A cash book is used to record

A: A cash book contains all cash receipts and payments transactions in detail, including bank deposits…

Q: Directions: Classify each transaction whether they are operating, financing, investing or non-…

A: 1 cash inflow from operating activities 2 cash inflow from investing activities 3 cash inflow from…

Q: When using a manual accounting information system, which of the following transactions would be…

A:

Q: Sale of goods for cash would be recorded in the _______________ Select one: A. purchase journal B.…

A: Correct option is D i.e. cash receipts journal

Q: Which of the following entries for goods sold by cash is correct? a) Cash Dr, AR Cr b) AR Dr,…

A: Goods or services provided by the business can be sold for cash or on account. Cash sales are sales…

Q: Which of the following balance sheet items are commonly associated with the purchases and cash…

A: The balance sheet is one of the financial statements of a company, that is, prepared at the end of…

Q: Fiona Sportyuses a purchases journal, a cash payments journal, a sales journal, a cash receipts…

A: Cash payment journal, cash receipt journal, sales journal and purchase journal are special journal…

Q: When posting the column totals of a cash payments journal, a debit should be posted to a.Unearned…

A: answer  c    Account  Payable is right answer.

Q: For each transaction, indicate whether it would normally be recorded in a cash receipts journal,…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: If a two-column (all-purpose) general journal, a revenue journal, and a cash receipts journal are…

A: There are various ledgers in a book which help in recording transactions of various nature, such…

Q: 1. Prepare chart of accounts using the following CASH EQUIPMENT INVENTORY ACCOUNTS RECEIVABLE…

A: solution chart of accounts we are required to classify the given items as to whether they are…

Q: Identify whether each of the following transactions, which are related to revenue recognition, are…

A: Revenue recognition principle says that revenue should be recognised in business when it is earned.…

Q: The receipt of cash arising from sales transaction would be recorded in the cash payments journal…

A: The special journal include cash receipts Journal, cash payments journal, sales Journal and…

Q: Every transaction recorded in the cash payments journal includes a a. credit to Cash. b. debit to…

A: In cash payments journal, transaction is to be recorded when there is a debit to cash i.e payment…

Q: What does the phrase "Revenue is recognized at the point of sale" mean? (Assume the company reports…

A: Accrual Basis of Accounting: The accrual basis of accounting is a method of accounting where the…

Q: Goods purchased on cash are recorded in the :(i) Purchases (journal) book(ii) Sales (journal)…

A: Option 3 cash book is the answer.

Q: Identify the correct journal entry when cash is received from customers - periodic inventory system…

A: Customers are accounts receivables which are decreased and cash is increased.

Q: A purchase of supplies on account is recorded in the ? Please explain with full explanation. a.…

A: Supplies: These are the general purpose consumables used for the purpose of business operations.…

Q: The type of transaction that would appear in sales journal would be a sale of

A: Sales Journal is a daybook to record the sales on credit to customers

Q: Which of the following transactions will be recorded in cash payment journal? a. Receipt of income…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Identifying special journals Use the following abbreviations to indicate the journal in which you…

A: Special Journal: It is a book where only specific type of monetary transactions such as cash…

Q: Exercise 2: Enter P for Purchases journal, S for Sales journal, CR for Cash Receipts journal, CD for…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Which of the following statements is characteristic of accrual basis accounting? Expenses are…

A: Cash basis accounting: In cash basis accounting , revenue are recognized when payment is received…