Given below are the transactions for G. Turner 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 journal, or (GJ) for general journal.

Debit Credit Journal

Supplies __Cash__ __CP___ 0. Purchased supplies for cash

________ ________ ________ a. Withdrew $500 in cash from the business.

________ ________ ________ b. Paid salaries expense, $800.

________ ________ ________ c. Purchased merchandise for cash, $2,500.

________ ________ ________ d. Purchased merchandise on account, $4,000.

_______ ________ ________ e. Returned $1,000 of goods purchased in d.

________ ________ ________ f. Paid two months' rent in advance, $600

________ ________ ________ g. Paid for purchases in d., less discount and return.

Question

Given below are the transactions for G. Turner 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 journal, or (GJ) for general journal.

Debit	Credit	Journal
Supplies	__Cash__	__CP___	0.	Purchased supplies for cash
________	________	________	a.	Withdrew $500 in cash from the business.
________	________	________	b.	Paid salaries expense, $800.
________	________	________	c.	Purchased merchandise for cash, $2,500.
________	________	________	d.	Purchased merchandise on account, $4,000.
_______	________	________	e.	Returned $1,000 of goods purchased in d.
________	________	________	f.	Paid two months' rent in advance, $600
________	________	________	g.	Paid for purchases in d., less discount and return.

Quizplus · Accepted Answer

The Answer of Given below are the transactions for G. Turner 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 journal, or (GJ) for general journal.

Debit	Credit	Journal
Supplies	__Cash__	__CP___	0.	Purchased supplies for cash
________	________	________	a.	Withdrew $500 in cash from the business.
________	________	________	b.	Paid salaries expense, $800.
________	________	________	c.	Purchased merchandise for cash, $2,500.
________	________	________	d.	Purchased merchandise on account, $4,000.
_______	________	________	e.	Returned $1,000 of goods purchased in d.
________	________	________	f.	Paid two months' rent in advance, $600
________	________	________	g.	Paid for purchases in d., less discount and return.

Given Below Are the Transactions for G