In what journal will each of the following numbered transactions be recorded? Sales Journal, Purchases Journal, Cash receipts journal, Cash disbursements journal or General journal. 1. Issue of share capital for cash. 2. Purchase of treasury share. 3. Periodic lease payment applying to both principal and interest in a financial lease. 4. Issue of a promissory note for a machine purchased. 5. Receipt of a promissory note in settlement of an account. 6. Declaration of dividends 7. Consumption of supplies, purchase of which was recorded in the supplies account. 8. Receipt of property dividends. 9. Write down of inventory to lower of cost and net realizable value. 10. Transferring the resulting balance of income summary to the retained earnings account.

In what journal will each of the following numbered transactions be recorded? Sales Journal, Purchases Journal, Cash receipts journal, Cash disbursements journal or General journal. 1. Issue of share capital for cash. 2. Purchase of treasury share. 3. Periodic lease payment applying to both principal and interest in a financial lease. 4. Issue of a promissory note for a machine purchased. 5. Receipt of a promissory note in settlement of an account. 6. Declaration of dividends 7. Consumption of supplies, purchase of which was recorded in the supplies account. 8. Receipt of property dividends. 9. Write down of inventory to lower of cost and net realizable value. 10. Transferring the resulting balance of income summary to the retained earnings account.

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Description: In what journal will each of the following numbered transactions berecorded? Sales Journal, Purchases Journal, Cash receipts journal, Cashdisbursements journal or General journal.1. Issue of share capital for cash.2. Purchase of treasury share.3. Pe

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 4EB: For each of the following transactions, state which special journal (Sales Journal, Cash Receipts...

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