TER PRINTER Exercise 124 Below are some typical transactions incurred by Piper Company. For each transaction, indicate the appropriate journal where the transaction would be journalized, 1 Purchase of merchandise on account 2. Collection on account from customers > > 3. Payment of employee's wages. 4. Sales of merchandise for cash 5 Close Income Summary to owner's capital 6. Adjusting entry for depreciation on machinery V 7. Payment of creditors on account Purchase of office equipment on credit 9. Sales discount taken on goods sold on credit 10 Sales of merchandise on account. 11 Purchase of a delivery truck for cash 12. Return of merchandise purchased on credit 13 Payment of rent in advance 14 Adjusting entry for accrued interest expense 21 15. Purchase of office supplies for cash UEN v Study Question Attempts of I used