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A Company Entered into the Following Transactions

Question 175

Matching

A company entered into the following transactions. Match each journal with the appropriate transaction in which it should be recorded.

Premises:
Borrowed $7,000 cash from the local bank.
A customer returned a $250 item purchased on account.
Purchased merchandise on account, $2,100.
Purchased equipment on account for $4,000.
Paid $15,000 cash in wages to employees.
Paid a telephone bill for $3,400 cash.
Purchased $1,150 of office supplies on account.
Recorded depreciation on office equipment of $2,000.
Returned defective inventory purchased on account, $2,550.
Recorded cash sales of $12,700.
Responses:
Sales journal
Purchases journal
Cash receipts journal
Cash disbursements journal
General journal

Correct Answer:

Borrowed $7,000 cash from the local bank.
A customer returned a $250 item purchased on account.
Purchased merchandise on account, $2,100.
Purchased equipment on account for $4,000.
Paid $15,000 cash in wages to employees.
Paid a telephone bill for $3,400 cash.
Purchased $1,150 of office supplies on account.
Recorded depreciation on office equipment of $2,000.
Returned defective inventory purchased on account, $2,550.
Recorded cash sales of $12,700.
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