Big Industries purchased merchandise from Small Company paying $5,000 in cash and promising to pay the remaining $5,000 in 30 days. Assuming the use of special journals, Big Industries would record this entry in the:
A) cash payments journal.
B) general journal.
C) sales journal.
D) cash receipts journal.
Correct Answer:
Verified
Q97: The total of the accounts receivable subsidiary
Q98: Table 7-9
The following transactions occurred during
Q99: Describe what is meant by balancing the
Q100: Table 7-9
The following transactions occurred during
Q101: Ford Enterprises paid a creditor on account.
Q103: The account that is credited for every
Q104: The purchase of equipment on account would
Q105: Amounts are posted individually from the purchases
Q106: The purchase of office equipment for cash
Q107: Laoshan Company uses a cash payments
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents