Chapter 9-10-11

Which Journal Should I use?

• When you Pay cash to someone

• Cash Receipts Journal

• Stuff you bought on account to sell

• Purchases Journal

• When someone pays you cash

• General Journal

• Transaction that don't fit elsewhere

• Cash Payments Journal

• Stuff you sold on account to customers

• Sales Journal

Match the following

• Purchases Journal

• Bought Office-Supplies on Account

• General Journal

• Received Cash from customer on account

• Sales Journal

• Sold Merchandise on Account

• Cash Receipts Journal

• Paid Cash for monthly rent

• Cash Payments Journal

• Purchased Merchandise on Account

Which is which

Groups:

(a) Asset

,

(b) Liability

,

(c) Owner's Equity

,

(d) Revenue Accounts

• PrePaid Insurance

• Accounts Receivable

• K.F., Drawing

• Sales

• Cash

• K.F., Capital

• Accounts Payable

An Accounts occurring in the Purchases Journal involves

• Accounts Recevable Debit and Cash Credit

• Accounts Receivable Credit and Purchases Debit

• Accounts Payable Credit and Purchases Debit

• Purchases Credit and Accounts Payable Credit

A transaction occurring in the Sales Journal would involve a

(a)   and an ​ (b)  

• Sales Credit
• Accounts Receivable Debit
• Accounts Payble Debit
• Accounts Receivable Credit
• Accounts Payable Credit
• Sales Debit

If I record a transaction in the Cash Payments journal for a fee that involves the use of a credit card, I would write ________________ on the Account Title line

• Credit Card Fee Expense

• Credit Card Fees

• Credit Expense

• Nothing, I would put a checkmark

When I record cash and credit card sales in the cash payments journal, I put a checkmark on the Account Title line

• True

• False

When Posting the totals from the Purchases and Sales Journal, I only have to post the total to one account for each, Purchase and Sales.

• True

• False

When recording the transaction that replenishes the Petty Cash Fund, which of the following accounts would never be used in the transaction.

• Petty Cash

• Cash

• Supplies-Office

• Miscellenous Expense

When posting, a checkmark is placed under the General Debit and Credit totals because:

• Those totals do not get posted

• Those totals get posted to too many places to count

• Do not get posted until I create a General Debit and General Credit Account

• Not enough information to answer this question