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A Company Entered into the Following Transactions

Question 16

Matching

A company entered into the following transactions.Match each transaction with the appropriate journal.The journals can be used one time,zero times,or more than one time if necessary.

Premises:

Responses:

Borrowed $5,000 cash from the bank

General journal

Paid a utility bill for $3,400 cash

Cash disbursements journal

Recorded depreciation on store equipment of $4,000

Cash receipts journal

Recorded cash sales of $14,700

Purchases journal

Purchased merchandise on account, $2,700

Sales journal

Returned defective inventory purchased on account, $2,900

Purchased a display rack on account for $4,700

Purchased $1,590 of store supplies on account

A customer returned a $250 item purchased on account

Paid $65,000 cash for wages and salaries

Premises:

Borrowed $5,000 cash from the bank

Paid a utility bill for $3,400 cash

Recorded depreciation on store equipment of $4,000

Recorded cash sales of $14,700

Purchased merchandise on account, $2,700

Returned defective inventory purchased on account, $2,900

Purchased a display rack on account for $4,700

Purchased $1,590 of store supplies on account

A customer returned a $250 item purchased on account

Paid $65,000 cash for wages and salaries

Responses:

General journal

Cash disbursements journal

Cash receipts journal

Purchases journal

Sales journal

Correct Answer:

Premises:

Responses:

Borrowed $5,000 cash from the bank

Paid a utility bill for $3,400 cash

Recorded depreciation on store equipment of $4,000

Recorded cash sales of $14,700

Purchased merchandise on account, $2,700

Returned defective inventory purchased on account, $2,900

Purchased a display rack on account for $4,700

Purchased $1,590 of store supplies on account

A customer returned a $250 item purchased on account

Paid $65,000 cash for wages and salaries