Pinnacle Consulting Company makes most of its sales and purchases on credit. It uses the five journals
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Pinnacle Consulting Company makes most of its sales and purchases on credit. It uses the five journals described in this chapter (revenue, cash receipts, purchases, cash payments, and general journals). Identify the journal most likely used in recording the postings for selected transactions indicated by letter in the T accounts, as follows:
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Cash Prepaid Rent Accounts Payable Fees Earned 10,940 b. 6,500 1,200 a. e. Accounts Receivable 1,90 10940 6500 d 7,400 11,790 |a Office Supplies 7,400 C. 10340 b. d. C. 11,790 Rent Expense 1,200 e.
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Revenue journal c Cas...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-1305088436
14th edition
Authors: Carl S. Warren, Jim Reeve, Jonathan Duchac
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