Asked by Lacey Brown on Jul 22, 2024
Verified
If a two-column
(all-purpose) general journal, a revenue journal, and a cash receipts journal are used, indicate the journal in which each of the following transactions should be recorded:
(a)Investment of additional cash in the business by the owner
(b)Rendering of services for cash
(c)Rendering of services on account
(d)Receipt of cash on account from a customer
(e)Sale of office supplies for cash, at cost, to a neighboring business
(f)Adjustment to record supplies used at the end of the year
(g)Closing of drawing account at the end of the year
General Journal
A fundamental bookkeeping document designed to systematically record every business transaction by date.
Revenue Journal
A specialized accounting journal used to record all the revenue transactions of a business, ensuring they are accounted for in the period they are earned.
Office Supplies
Items used in offices for daily operations, including paper, pens, and other materials not directly linked to the manufacturing process.
- Develop skills in entering transactions into specific journals, considering the nature of each transaction.
- Comprehend the function and value of specialized journals in the arrangement of financial information.
Verified Answer
CB
Cameron BelloitJul 24, 2024
Final Answer :
(a)cash receipts journal
(b)cash receipts journal
(c)revenue journal
(d)cash receipts journal
(e)cash receipts journal
(f)general journal
(g)general journal
(b)cash receipts journal
(c)revenue journal
(d)cash receipts journal
(e)cash receipts journal
(f)general journal
(g)general journal
Learning Objectives
- Develop skills in entering transactions into specific journals, considering the nature of each transaction.
- Comprehend the function and value of specialized journals in the arrangement of financial information.