Question

In: Economics

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 2 years ago
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