Question

Slobos o rgo vd Wolod ampliar 41. Below are some typical transactions incurred by Piper Company. 1. Purchase of merchandise on account. 2. Collection on account from customers. b ln 3. Payment of employee's wages. 4. Sales of merchandise for cash. 5. Close Income Summary to owner's capital. ba 6. Adjusting entry for depreciation on machinery. 7. Payment of creditors on account. ovom 8. Purchase of office equipment on credit. 9. Sales discount taken on goods sold on credit. 10. Sales of merchandise on account. 11. Purchase of a delivery truck for cash. 12. Return of merchandise purchased on credit 13. Payment of rent in advance. 14. Adjusting entry for accrued interest expense. 15. Purchase of office supplies for cash. For each transaction, indicate by the code letter the appropriate journal where the transaction would be journalized. CR ---Cash Receipts Journal CP-Cash Payments Journal b ilbo S-Sales Journal P ---Single-Column Purchases Journal G-General Journal
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Answer 1

P 1.Purchases of Merchandise on Accounts CR/2.Collection on Accounts from Customers CP 3.Payment to Employess Wages S 4.Sales of Merchandise for Cash G 5.Close Income Summary to Owners Equity G 6.Adjusting entry for Depreciation on Machinery CP 7.Payments to Creditors on Account G 8.Purchase of Office Equipment on Credit G 9.Sales discount taken on Goods Sold on Credit S 10. Sales of merchandise on account CP 11.Purchase of Delivery truck for Cash G 12.Return of Merchandise purchased on Credit CP 13.Payment of rent in Advance G 14.Adjusting netry for Accrued Interest Expenses CP 15.Purchase of Office Supplies for Cash