The following special journal is taken from a merchandising company that uses the perpetual inventory system:
1.What is the name of the journal shown above?
2.Write an explanation for each entry in this journal.
3.What do the numbers in parentheses at the bottom of the journal indicate?

Question

The following special journal is taken from a merchandising company that uses the perpetual inventory system:
  1.What is the name of the journal shown above?
2.Write an explanation for each entry in this journal.
3.What do the numbers in parentheses at the bottom of the journal indicate?

Quizplus · Accepted Answer

2.Journal entries 
 11ea7277_eedd_8116_9608_71920d35dc9c_TB2411_00 3.The numbers indicate that the column totals have been posted to the accounts indicated.For instance,the 411 indicate that $6,815 was posted as a credit to the sales account.

The Following Special Journal Is Taken from a Merchandising Company