The White Companys accounting system consists of a general journal (GJ), a cash receipts journal (CR), a

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The White Company’s accounting system consists of a general journal (GJ), a cash receipts journal (CR), a cash disbursements journal (CD), a sales journal (SJ), and a purchases journal (PJ). For each of the following, indicate which journal should be used to record the transaction. 

Transaction Journal 1. Purchased merchandise on account. 2. Collected an account receivable. 3. Borrowed $20,000 and signed a note. 4. Recorded depreciation expense. 5. Purchased equipment for cash. 6. Sold merchandise for cash (the sale only, not the cost of the merchandise). 7. Sold merchandise on credit (the sale only,

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Related Book For  answer-question

Intermediate Accounting

ISBN: 9781259722660

9th Edition

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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