|| 13 14 15 16 17 18 A company uses special journals for sales, purchases, cash receipts, cash payments, and uses a general journal. Match each transaction with the journals that need to be recorded in. D. v Purchased office supplies on credit from Muharraq Co. for A. Sales Journal $20,500, terms 3/10, n/90. C. - Purchased equipment for $23,200 cash from Logistic Co. B. Cash receipts Journal C. Cash payments Journal E. - Returned defective office supplies with a cost of $7,000 from the last month purchase. D. Purchase Journal A. - Sold merchandise on credit for S32,700 to Golden Corp., Invoice No. 950. The cost of the good sold is $5,000. E. General journal C. Paid S60,000 cash for monthly rents for the factory, Check No. 550. v Borrowed $400.000 from National Bank of Bahrain on a long- term note payable. v Collected S55,600 from Esterad Corp. for merchandise sold in the last-three months. v Purchased S84,000 of merchandise inventory on credit from Majestic Company, terms 2/10, n/60. Invoice No. 720.

|| 13 14 15 16 17 18 A company uses special journals for sales, purchases, cash receipts, cash payments, and uses a general journal. Match each transaction with the journals that need to be recorded in. D. v Purchased office supplies on credit from Muharraq Co. for A. Sales Journal $20,500, terms 3/10, n/90. C. - Purchased equipment for $23,200 cash from Logistic Co. B. Cash receipts Journal C. Cash payments Journal E. - Returned defective office supplies with a cost of $7,000 from the last month purchase. D. Purchase Journal A. - Sold merchandise on credit for S32,700 to Golden Corp., Invoice No. 950. The cost of the good sold is $5,000. E. General journal C. Paid S60,000 cash for monthly rents for the factory, Check No. 550. v Borrowed $400.000 from National Bank of Bahrain on a long- term note payable. v Collected S55,600 from Esterad Corp. for merchandise sold in the last-three months. v Purchased S84,000 of merchandise inventory on credit from Majestic Company, terms 2/10, n/60. Invoice No. 720.

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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