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Po vd Wrolsd emotions 41. Below are some typical transactions incurred by Piper Company. 1. Purchase of merchandise on accoun
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For each transaction the code letter the appropriate journal are as below.

1. Purchase of merchandise on account - P- Single- Column Purchases Journal

2. Collection on accounts from customers- CR- Cash Receipts Journal

3. Payment of employee's wages- CP- Cash Payments Journal

4. Sales of merchandise for cash- CR- Cash Receipts Journal

5. Close income summary to owner's capital- G- General Journal

6. Adjusting entry for depreciation on machinery- G- General Journal

7. Payment of creditors on account- CP- Cash Payments Journal

8. Purchase of office equipment on credit- G- General Journal

9. Sales discount taken on goods sold on credit- S- Sales Journal

10. Sales of merchandise on account- S- Sales Journal

11. Purchase of a delivery truck for cash- CP- Cash Payments Journal

12. Return of merchandise purchased on credit- P- Single- Column Purchases Journal

13. Payment of rent in advance- CP- Cash Payments Journal

14. Adjusting entry for accrued interest expense- G- General Journal

15. Purchase of office supplies for cash-  CP- Cash Payments Journal

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