Question

Wilcox Electronics uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal as illustrated in this chapter. Wilcox recently completed the following trans-actions a through h. Identify the journal in which each transaction should be recorded.
a. Sold merchandise on credit.
b. Purchased shop supplies on credit.
c. Paid an employee’s salary in cash.
d. Borrowed cash from the bank.
e. Sold merchandise for cash.
f. Purchased merchandise on credit.
g. Purchased inventory for cash.
h. Paid cash to a creditor.



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  • CreatedNovember 26, 2013
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