Mitsui Corporation is a major distributor of school portables. All sales have terms 1/10, n/15. During July,
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Mitsui Corporation is a major distributor of school portables. All sales have terms 1/10, n/15. During July, the following select transactions occurred. For each transaction, identify into which special journal it should be journalized. Use SJ for sales journal, CRJ for cash receipts journal, and GJ for general journal. Also indicate if the accounts receivable sub-ledger is affected.
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Date July 1 July 2 July 5 July 14 July 22 July 31 July 31 Transaction Sold merchandise on account Defective merchandise sold on July 1 was returned by the customer due to incorrect colour Received payment regarding the July 1 sale Sold merchandise for cash Sold old equipment for cash Record accrued salaries for the month Accrued utilities for the month of July Special Journal Affects Sub-ledger?
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Special Journals Sales Cash Receipts General Journal Date July 1 July 2 July 5 July 14 July 22 Jul...View the full answer
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Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
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Related Book For
College Accounting A Practical Approach
ISBN: 9780135222416
14th Canadian Edition
Authors: Jeffrey Slater, Debra Good
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