Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1 ea4 2 3 for each of the following transactions,

1 EA4 2 3 For each of the following transactions, state which special journal (Sales...

60.1K

Verified Solution

Question

Accounting

image
1 EA4 2 3 For each of the following transactions, state which special journal (Sales Journal, 4 Cash Receipts Journal, Cash Disbursements Journal, Purchases Journal, or General 5 Journal) and which subsidiary ledger (Accounts Receivable, Accounts Payable, 6 neither) would be used in recording the transaction. 7 ap/ar 8 Special Journal Subsidiary Journal 9 cash A Paid utility bill 10 ar B. Sold inventory on account 11 genral journal C. Received but did not pay phone bill 12 purchases journal D. Bought inventory on account 13 E. Borrowed money from a bank 14 F. Sold old office furniture for cash 15 G. Recorded depreciation 16 H. Accrued payroll at the end of the accounting period 17 I. Sold inventory for cash 18 J. Paid interest on bank loan 19

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students