The Bell Corporation uses a general journal, a sales journal, a purchases journal, a cash receipts journal, and a cash payments journal. Below are listed 12 of Bell Corporation's transactions in 2013. a. Purchased $3,000 of merchandise on credit.
b. Sold $500 merchandise on account.
c. Sold $1,500 merchandise for cash.
d. Credited $300 in sales returns to customer accounts.
e. Prepared adjusting and closing entries.
f. Paid $200 office salaries.
g. Returned $250 of defective merchandise to supplier for credit on account.
h. Purchased building site for $7,500 cash.
i. Purchased $1,000 merchandise for cash.
j. Collected $750 from customers on account.
k. Purchased building by issuing $10,000 note payable.
l. Received a $600 income tax refund.

Required:
List letters (a) through (l) and indicate which journal would be used by Bell to record each transaction.

Question

The Bell Corporation uses a general journal, a sales journal, a purchases journal, a cash receipts journal, and a cash payments journal. Below are listed 12 of Bell Corporation's transactions in 2013. a.	Purchased $3,000 of merchandise on credit.
b.	Sold $500 merchandise on account.
c.	Sold $1,500 merchandise for cash.
d.	Credited $300 in sales returns to customer accounts.
e.	Prepared adjusting and closing entries.
f.	Paid $200 office salaries.
g.	Returned $250 of defective merchandise to supplier for credit on account.
h.	Purchased building site for $7,500 cash.
i.	Purchased $1,000 merchandise for cash.
j.	Collected $750 from customers on account.
k.	Purchased building by issuing $10,000 note payable.
l.	Received a $600 income tax refund.

Required:
List letters (a) through (l) and indicate which journal would be used by Bell to record each transaction.

Quizplus · Accepted Answer

The Answer of The Bell Corporation uses a general journal, a sales journal, a purchases journal, a cash receipts journal, and a cash payments journal. Below are listed 12 of Bell Corporation's transactions in 2013. a.	Purchased $3,000 of merchandise on credit.
b.	Sold $500 merchandise on account.
c.	Sold $1,500 merchandise for cash.
d.	Credited $300 in sales returns to customer accounts.
e.	Prepared adjusting and closing entries.
f.	Paid $200 office salaries.
g.	Returned $250 of defective merchandise to supplier for credit on account.
h.	Purchased building site for $7,500 cash.
i.	Purchased $1,000 merchandise for cash.
j.	Collected $750 from customers on account.
k.	Purchased building by issuing $10,000 note payable.
l.	Received a $600 income tax refund.

Required:
List letters (a) through (l) and indicate which journal would be used by Bell to record each transaction.

The Bell Corporation Uses a General Journal, a Sales Journal