Indicate in which of these five journals each transaction described…

Question Answered step-by-step Indicate in which of these five journals each transaction described…  Indicate in which of these five journals each transaction described below will be journalized: Write the letter of your answer on the space provided for. Use CAPITAL LETTERS only. A. Sales Journal B. Cash Receipts Journal C. Purchases Journal D. Cash Payments Journal E. General Journal ___1. Issued credit memo No. 2, $13. ___2. Cash sales, $20. ___3. Received cheque from Blue Co., $50, less 3% discount. ___4. Bought merchandise on account from Mel Co., $35, 1/10, n/30, invoice No. 20. ___5. Cash purchase, $15. ___6. Issued debit memo to Mel Co., $15 for merchandise returned from invoice No. 20. ___7. Sold inventory on account to J. Blake, $1,430, Invoice #214 ___8. Issued credit memo #3 for merchandise returned by B. Kelly, $120 ___9. Paid utilities for the month, $340. ___10. Bought delivery equipment on account from C. Merdan, $6,200 Matching Type. Choose the best answer from the choices below and write the letter of your choice before the corresponding number. Use CAPITAL LETTERS only. A. F.O.B. shipping point B. Controlling account C. Purchases journal D. Purchase order E. Purchase requisition F. Sales journal G. Credit memorandum H. Debit memorandum I. F.O.B. destination J. Subsidiary K. Cash payment journal L. Cash receipts journal M. Receiving Report N. Purchase order journal ___1. A __________ is a business form used to notify the purchasing and accounting departments of the ordered goods received. ___2. __________ refers to when the seller pays or is responsible for the cost of freight. ___3. The __________ is a multi-column special journal that records the buying of merchandise or other items on account. 6___4. A __________ is a form used in business to place an order to buy goods from a seller. ___5. __________ refers to when the purchaser pays or is responsible for the shipping costs. ___6. A __________ is a form used within a business by the requesting department asking the purchasing department of the business to buy specific goods. ___7. A ledger that contains accounts of a single type is called a __________ ledger. ___8. A __________ is issued by a purchaser to a seller, indicating that some purchase returns and allowances have occurred. ___9. The special journal that records all transactions involving payment by cheque is a __________. ___10. The account in the general ledger that summarizes or controls a subsidiary is called a __________. Accounting Business Financial Accounting ACCT ACCT-220 Share QuestionEmailCopy link Comments (0)