The following are several transactions of a company that uses special journals: Required In the space provided,
Question:
Required
In the space provided, indicate in which journal the transaction would be recorded using the codes: G for general journal, S for sales journal, P for purchases journal, CR for cash receipts journal, and CP for cash paymentsjournal.
Transcribed Image Text:
Transaction Journal 1. Purchase of inventory for cash 2. Sale of inventory on credit. 3. Payment of sales salaries 4. Purchase of inventory on credit 5. Sale of merchandise for cash. 6. Purchase of land by issuing note payable. 7. Collection of short-term note receivable and related interest. 8. Return of defective inventory to supplier for credit to account. 9. Prepaation of adjusting entries. 0. Purchase of equipment for cash.
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Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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