Indicate the journal in which each of the following transactions should be recorded. Assume a three-column purchases journal. Paid a creditor on account. Bought merchandise on account. Sold merchandise for cash. Adjusted for insurance expired. Received payment on account from a charge customer. Received a credit memo for merchandise returned. Bought equipment on credit. Sold merchandise on account. Recorded a customer's NSF check. Invested personal noncash assets in the business. Withdrew cash for personal use. options: Cash Payments Cash Receipts General Journal Purchases Sales
Indicate the journal in which each of the following transactions should be recorded. Assume a three-column purchases journal. Paid a creditor on account. Bought merchandise on account. Sold merchandise for cash. Adjusted for insurance expired. Received payment on account from a charge customer. Received a credit memo for merchandise returned. Bought equipment on credit. Sold merchandise on account. Recorded a customer's NSF check. Invested personal noncash assets in the business. Withdrew cash for personal use. options: Cash Payments Cash Receipts General Journal Purchases Sales
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 3MC: If a customer pays with a credit card and the service has been provided, which of the following...
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Indicate the journal in which each of the following transactions should be recorded. Assume a three-column purchases journal.
- Paid a creditor on account.
- Bought merchandise on account.
- Sold merchandise for cash.
- Adjusted for insurance expired.
- Received payment on account from a charge customer.
- Received a credit memo for merchandise returned.
- Bought equipment on credit.
- Sold merchandise on account.
- Recorded a customer's NSF check.
- Invested personal noncash assets in the business.
- Withdrew cash for personal use.
- Paid a creditor on account.
options:
- Cash Payments
- Cash Receipts
- General Journal
- Purchases
- Sales
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