Read the following transaction descriptions and for each, identify the journal type for processing the transaction if
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Question:
Read the following transaction descriptions and for each, identify the journal type for processing the transaction if the business uses specialised journals.
Journal Type | Description |
---|---|
SJ | Sales Journal |
PJ | Purchases Journal |
CP | Cash Payments Journal |
CR | Cash Receipts Journal |
GJ | General Journal |
Enter the correct code for Journal Type each of the following.
Paid $800 cash to R Jones (a creditor) to pay an account | |
Commercial rent of $600 paid by EFT | |
Purchased Motor Vehicle on credit from F Ford for $25,000 | |
Credit sales of $1,000 to M Luce | |
Owner took inventory for own use | |
Owner paid for personal expenses from business account | |
Sales of $500 for cash |
Related Book For
Cost Accounting Foundations and Evolutions
ISBN: 978-1111626822
8th Edition
Authors: Michael R. Kinney, Cecily A. Raiborn
Posted Date: