Solved

Match the Items Below to the Special Journal in Which

Question 188

Matching

Match the items below to the special journal in which each would be recorded:

Premises:
Annual premium on fire insurance of $ 6,525 is paid using cheque 121.
Inventory of $ 7,850 is purchased from Kick It Up Ink using cheque 125.
Cheque 2569 from Almonds Inc.for $ 2,500 is received in full payment of invoice 156.
Purchased $ 5,500 of supplies on account.
Sold $ 26,500 of merchandise to Bob Kang on account.
K.S.Override invests $ 10,000 in the business.
Responses:
Sales
Cash Receipts
Purchases
Cash Payments

Correct Answer:

Annual premium on fire insurance of $ 6,525 is paid using cheque 121.
Inventory of $ 7,850 is purchased from Kick It Up Ink using cheque 125.
Cheque 2569 from Almonds Inc.for $ 2,500 is received in full payment of invoice 156.
Purchased $ 5,500 of supplies on account.
Sold $ 26,500 of merchandise to Bob Kang on account.
K.S.Override invests $ 10,000 in the business.
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