Identifying the journal to record transactions.
The accounting system of Dave’s Wildlife Resort includes the journals listed below. Indicate the specific journal in which each of the transactions listed below would be recorded.
JOURNALS
Cash receipts journal | Sales journal | Purchases journal |
Cash payments journal | General journal |
|
DATE | TRANSACTIONS | |
May | 1 | Sold merchandise on credit. |
| 2 | Accepted a return of merchandise from a credit customer. |
| 3 | Sold merchandise for cash. |
| 4 | Purchased merchandise on credit. |
| 5 | Gave a $400 allowance for damaged merchandise. |
| 6 | Collected sums on account from credit customers. |
| 7 | Received an additional cash investment from the owner |
| 8 | Issued a check to pay a creditor on account. |
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