Match each of the following transactions to the journal in which it would be entered. Performed...

Match each of the following transactions to the journal in which it would be entered.

Performed advising services on account
Borrowed money for expansion project
Received payment from customer on account
Purchased office supplies on account
Withdrew cash for personal use (by owner)
Paid monthly rent
Paid creditor on account
Recorded adjusting journal entry for accrued interest

Solutions

Expert Solution

A. Performed advising services on account

- Journal proper/General journal

B. Borrowed money for expansion project

- Cash receipts journal

C. Received payment from customer on account

- Cash receipts journal

D. Purchased office supplies on account

- Purchase journal

E. Withdrew cash for personal use (by owner)

- Cash payment/disbursement journal

F. Paid monthly rent

- Cash payment/disbursement journal

G. Paid creditor on account

- Cash payment/disbursement journal

H. Recorded adjusting journal entry for accrued interest

- Journal proper/General journal

Rahul Sunny answered 1 year ago

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