Given below are the transactions for B. Stern Company. For each transaction state the account(s) to be debited and account(s) to be credited and indicate the journal in which each transaction should be recorded. Indicate (P) for purchase journal, (CP) for cash payments, or (GJ) for general journal in the column headed journal.

Debit Credit Journal

Supplies Accts. Pay. ___P___ 0. Purchased supplies on account

________ ________ ________ a. Purchased merchandise on account.

________ ________ ________ b. Paid utilities expense.

________ ________ ________ c. Purchased merchandise for cash.

________ ________ ________ d. Returned half of goods purchased in a.

_______ ________ ________ e. Showers made a withdrawal of cash.

________ ________ ________ f. Purchased store equipment on account.

________ ________ ________ g. Paid for purchases in a., less return within the period.

Question

Given below are the transactions for B. Stern Company. For each transaction state the account(s) to be debited and account(s) to be credited and indicate the journal in which each transaction should be recorded. Indicate (P) for purchase journal, (CP) for cash payments, or (GJ) for general journal in the column headed journal.

Debit	Credit	Journal
Supplies	Accts. Pay.	___P___	0.	Purchased supplies on account
________	________	________	a.	Purchased merchandise on account.
________	________	________	b.	Paid utilities expense.
________	________	________	c.	Purchased merchandise for cash.
________	________	________	d.	Returned half of goods purchased in a.
_______	________	________	e.	Showers made a withdrawal of cash.
________	________	________	f.	Purchased store equipment on account.
________	________	________	g.	Paid for purchases in a., less return within the period.

Quizplus · Accepted Answer

The Answer of Given below are the transactions for B. Stern Company. For each transaction state the account(s) to be debited and account(s) to be credited and indicate the journal in which each transaction should be recorded. Indicate (P) for purchase journal, (CP) for cash payments, or (GJ) for general journal in the column headed journal.

Debit	Credit	Journal
Supplies	Accts. Pay.	___P___	0.	Purchased supplies on account
________	________	________	a.	Purchased merchandise on account.
________	________	________	b.	Paid utilities expense.
________	________	________	c.	Purchased merchandise for cash.
________	________	________	d.	Returned half of goods purchased in a.
_______	________	________	e.	Showers made a withdrawal of cash.
________	________	________	f.	Purchased store equipment on account.
________	________	________	g.	Paid for purchases in a., less return within the period.

Given Below Are the Transactions for B