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A Company Entered into the Following Transactions

Question 137

Essay

A company entered into the following transactions. For each transaction, indicate the appropriate journal in which it would be recorded.
 Transaction  Record in Journal  1. Borrowed cash from the bank  2. Purchased merchandise for cash  3. Paid cash to settle the utility bill  4. Customer sent in cash to settle an account  receivable  5. Purchased merchandise on credit  6. Recorded depreciation for the period  7. Sold merchandise on credit  8. Sold merchandise for cash  9. Bought store supplies for cash  10. Owner invested more cash in the business \begin{array}{|l|l|}\hline {\text { Transaction }} & \text { Record in Journal } \\\hline \text { 1. Borrowed cash from the bank } & \\\hline \text { 2. Purchased merchandise for cash } & \\\hline \text { 3. Paid cash to settle the utility bill } & \\\hline \text { 4. Customer sent in cash to settle an account } & \\\text { receivable } & \\\hline \text { 5. Purchased merchandise on credit } & \\\hline \text { 6. Recorded depreciation for the period } & \\\hline \text { 7. Sold merchandise on credit } & \\\hline \text { 8. Sold merchandise for cash } & \\\hline \text { 9. Bought store supplies for cash } & \\\hline \text { 10. Owner invested more cash in the business } & \\\hline\end{array}

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