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Special Journals Indicate in which journal each transaction would be recorded in: Purchase on inventory for...

Special Journals

Indicate in which journal each transaction would be recorded in:

  • Purchase on inventory for cash
  • Sale of inventory on credit
  • Payment of Sales salaries
  • Purchase of inventory on credit
  • Sale of merchandise for cash
  • Purchase of land by issuing note payable
  • Collection of short-term note receivable and related interest
  • Return of defective inventory to supplier for credit to account
  • Preparation of adjusting entries
  • Purchase of equipment for cash

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Answer #1

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1 Purchase on inventory for cash Cash Payment Journal
2 Sale of inventory on credit Sales Journal
3 Payment of Sales salaries Cash Payment Journal
4 Purchase of inventory on credit Purchase Journal
5 Sale of merchandise for cash Cash Receipt Journal
6 Purchase of land by issuing note payable General Journal
7 Collection of short-term note receivable and related interest Cash Receipt Journal
8 Return of defective inventory to supplier for credit to account Purchase Journal
9 Preparation of adjusting entries General Journal
10 Purchase of equipment for cash Cash Payment Journal
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