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BE7.8 (LO 3) Villar Co. uses special journals and a general journal. Identify the journal in which each of the following tran
VIII. The income statement and balance sheet columns of Pine Companys work sheet reflect the following totals: (9 points) Ba
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Answer #1
a. Purchased equipment on account. General Journal
b. Purchased merchandise on account. Purchase Journal
c. Paid utility expense in cash. Cash Disbursement Journal
d. Sold merchandise on account. Sales Journal
Income Statement Balance Sheet
Dr. Cr. Dr. Cr.
Totals 20,000 60,000 140,000 100,000
Net Income 40,000 40,000
Totals 60,000 60,000 140,000 140,000

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