Jones's Hardware paid $750 cash for supplies from Miner's Supply. The journal entry for Jones's Hardware to record this transaction is:

debit Supplies, $750; credit Cash, $750.

debit Cash, $750; credit Purchases, $750.

debit Cash, $750; credit Supplies, $750.

debit Purchases, $750; credit Cash, $750.

Digital Electronics paid $189 cash for supplies from We Deliver Supplies. The journal entry for Digital Electronics to record this transaction is:

debit Supplies, $189; credit Cash, $189.

debit Cash, $189; credit Supplies Expense, $189.

debit Cash, $189; credit Supplies, $189.

debit Supplies Expense, $189; credit Cash, $189.

Fast Freddy Furniture received $175 cash from Wayne Sweeny for payment on account. The journal entry for Fast Freddy Furniture to record this transaction is:

debit Cash, $175; credit Accounts Receivable/Wayne Sweeny, $175.

debit Cash, $175; credit Sales, $175.

debit Sales, $175; credit Cash, $175.

debit Accounts Receivable/Wayne Sweeny, $175; credit Cash, $175.

Christina's Curtains paid cash for the telephone bill, $110. The journal entry to record this transaction is:

debit Telephone Expense, $110; credit Cash, $110.

debit Purchases, $110; credit Cash, $110.

debit Cash, $110; credit Purchases, $110.

debit Cash, $110; credit Telephone Expense, $110.

Classic Cars, Inc. paid $500 cash for supplies from Wendy's Supplies. The journal entry for Classic Cars, Inc. to record this transaction is:

debit Supplies, $500; credit Cash, $500.

debit Cash, $500; credit Supplies Expense, $500.

debit Cash, $500; credit Supplies, $500.

debit Supplies Expense, $500; credit Cash, $500.

Pam’s Publishing purchases supplies on account from Owen Office Supply for $350. The journal entry for Pam’s Publishing to record this transaction is:

debit Supplies, $350; credit Accounts Payable/Owen Office Supply, $350.

debit Accounts Payable/Owen Office Supply, $350; credit Supplies, $350.

debit Accounts Receivable/Owen Office Supply, $350; credit Supplies, $350.

debit Supplies, $350; credit Accounts Receivable/Owen Office Supply, $350.

The correct journal entry for the transaction RECEIVED CASH ON ACCOUNT FROM BILL'S LIMOS is:

debit Cash and credit Accounts Receivable/Bill's Limos.

debit Accounts Receivable/Bill's Limos and credit Cash.

debit Accounts Receivable/Bill's Limos and credit Jane Smith, Capital.

debit Cash and credit Jane Smith, Capital.

The correct journal entry for the transaction BOUGHT SUPPLIES ON ACCOUNT FROM JONES SUPPLY COMPANY is:

debit Supplies and credit Accounts Payable/Jones Supply Company.

debit Accounts Payable/Jones Supply Company and credit Cash.

debit Account Payable/Jones Supply Company and credit Supplies.

Busters' Department Store sold merchandise for $65, plus sales tax of $4, to Jake Coble who charged the sale on his bank credit card. Mr. Coble later returned the merchandise. The journal entry for Busters' Department Store to record the returned merchandise is:

debit Sales Returns and Allowances, $65, Sales Tax Payable, $4; credit Cash, $69.

debit Accounts Receivable/Jake Coble, $69; credit Sales Returns and Allowances, $65, Sales Tax Payable, $4.

debit Sales Returns and Allowances, $65, Sales Tax Payable, $4; credit Accounts Receivable/Jake Coble, $69.

debit Cash, $69; credit Sales Returns and Allowances, $65, Sales Tax Payable, $4.

The Jungle Gym returned merchandise that was purchased on account to Footware Wholesale, $750. The journal entry for The Jungle Gym to record this transaction is:

debit Accounts Payable/ Wholesale, $750; credit Purchases Returns and Allowances, $750.

debit Purchases Returns and Allowances, $750; credit Accounts Payable/F Wholesale, $750.

debit Accounts Receivable/ Wholesale, $750; credit Purchases Returns and Allowances, $750.

debit Purchases Returns and Allowances, $750; credit Purchases, $750.

Curt's Cabinets paid cash on account to Phil's Fasteners, $441; covering Purchase Invoice No. 54 for $450, less a 2% discount, $9. The journal entry for Curt's Cabinets to record this transaction is:

debit Accounts Payable/Phil's Fasteners, $450; credit Purchases Discount, $9, Cash, $441.

debit Accounts Payable/Phil's Fasteners, $441; credit Cash, $441.

debit Accounts Payable/Phil's Fasteners, $450; credit Cash, $450.

debit Purchases Discount, $9, Cash, $441; credit Accounts Payable/Phil's Fasteners, $450.

Sonny's Skateboard Shop paid cash on account to Boards Unlimited, $795, covering Purchase Invoice No. 290. The journal entry for Sonny's Skateboard Shop to record this transaction is:

debit Accounts Payable/Boards Unlimited, $795; credit Cash, $795.

debit Cash, $795; credit Accounts Payable/Boards Unlimited, $795.

debit Accounts Receivable/Boards Unlimited, $795; credit Cash, $795.

debit Cash, $795; credit Accounts Receivable/Boards Unlimited, $795.

Allen discovered that a sale on account to Jones Company on June 5 for $560 was incorrectly charged to the account of Jackson Company. The journal entry to correct this error is:

debit Accounts Receivable/Jones Company, $560; credit Accounts Receivable/Jackson Company, $560.

debit Accounts Payable/Jones Company, $560; credit Accounts Payable/Jackson Company, $560.

debit Accounts Receivable/Jackson Company, $560; credit Accounts Receivable/Jones Company, $560.

debit Accounts Payable/Jackson Company, $560; credit Accounts Payable/Jones Company, $560.

Linen Supply sold Nites Inn merchandise on account for $551, plus sales tax of $31. The journal entry for Linen Supply to record this transaction is:

debit Accounts Receivable/Nites Inn, $582; credit Sales, $551, Sales Tax Payable, $31.

debit Accounts Receivable/Nites Inn, $582; credit Purchases $582.

debit Sales, $551, Sales Tax Payable, $31; credit Accounts Receivable/Nites Inn, $582.

debit Purchases, $582; credit Accounts Receivable/Nites Inn, $582.

Rubber Compounds sold merchandise for cash to The Shoe Maker for $773, plus sales tax of $56. The journal entry for Rubber Compounds to record this transaction is:

debit Cash, $829; credit Sales, $773, Sales Tax Payable, $56.

debit Sales, $773, Sales Tax Payable, $56; credit Cash, $829.

debit Accounts Receivable/The Shoe Maker, $829; credit Cash, $829.

debit Cash, $829; credit Accounts Receivable/The Shoe Maker, $829.

John's Appliances purchased merchandise on account from Electronic Supply for $990. The journal entry for John's Appliances to record this transaction is:

debit Purchases, $990; credit Accounts Payable/Electronic Supply, $990.

debit Purchases, $990; credit Accounts Receivable/Electronic Supply, $990.

debit Accounts Receivable/Electronic Supply, $990; credit Purchases, $990.

debit Accounts Payable/Electronic Supply, $990; credit Purchases, $990.

Sluggers Sports Shop purchased merchandise for cash from Better Bats Warehouse for $850. The journal entry for Sluggers Sports Shop to record this transaction is:

debit Purchases, $850; credit Cash, $850.

debit Accounts Payable/Better Bats Warehouse, $850; credit Purchases, $850.

debit Cash, $850; credit Purchases, $850.

debit Purchases, $850; credit Accounts Payable/Better Bats Warehouse, $850.

Mike's Auto Shop purchases supplies on account from Automotive Supply for $435. The journal entry for Mike's Auto Shop to record this transaction is:

debit Supplies, $435; credit Accounts Payable/Automotive Supply, $435.

debit Accounts Payable/Automotive Supply, $435; credit Supplies, $435.

debit Accounts Receivable/Automotive Supply, $435; credit Supplies, $435.

debit Supplies, $435; credit Accounts Receivable/Automotive Supply, $435.

Turf Supplies sold merchandise for cash to Circle Golf Club for $1,150, plus sales tax of $83. The journal entry for Turf Supplies to record this transaction is:

debit Cash, $1,233; credit Sales, $1,150, Sales Tax Payable, $83.

debit Sales, $1,150, Sales Tax Payable, $83; credit Cash $1,233.

debit Accounts Receivable/Circle Golf Club, $1,233; credit Cash, $1,233.

debit Cash, $1,233; credit Accounts Receivable/ Circle Golf Club, $1,233.

The Mine Safety Warehouse sold Lucky Mines merchandise on account for $414, plus sales tax of $24. The journal entry for The Mine Safety Warehouse to record this transaction is:

debit Accounts Receivable/Lucky Mines, $438; credit Sales, $414, Sales Tax Payable, $24.

debit Sales, $414, Sales Tax Payable, $24; credit Accounts Receivable/Lucky Mines, $438.

debit Accounts Receivable/Lucky Mines, $438; credit Purchases, $438.

debit Purchases, $438; credit Accounts Receivable/Lucky Mines, $438.

Marvin's Motorcycles received $125 cash from Stewart's Rides for payment on his account. Stewart's Rides took a $25 sales discount for paying early. The journal entry for Marvin's Motorcycles to record this transaction is:

debit Cash, $125, Sales Discounts, $25; credit Accounts Receivable/Stewart's Rides, $150.

debit Cash, $125; credit Sales Discounts, $25, Accounts Receivable/Stewart's Rides, $100.

debit Accounts Receivable/Stewart's Rides, $150; credit Cash, $125, Sales Discounts, $25.

debit Sales Discounts, $25, Accounts Receivable/Stewart's Rides, $100; credit Cash, $125.

Jacob Doe Tractor purchased store supplies on account from Tractor Supply for $942. The journal entry for Jacob Doe Tractor to record this transaction is:

debit Supplies, $942; credit Accounts Payable/Tractor Supply, $942.

debit Accounts Payable/Tractor Supply, $942; credit Supplies, $942.

debit Accounts Receivable/Tractor Supply, $942; credit Supplies, $942.

debit Supplies, $942; credit Accounts Receivable/Tractor Supply, $942.

Overseas Oil Co. sold merchandise for $665, plus sales tax of $48, to Auto Plastics, who paid for the merchandise with a bank credit card at the time of the sale. The journal entry for Overseas Oil Co. to record this transaction is:

debit Cash, $713; credit Sales, $665, Sales Tax Payable, $48.

debit Sales, $665, Sales Tax Payable, $48; credit Cash $713.

debit Accounts Receivable/Auto Plastics, $713; credit Cash, $713.

debit Sales, $665, Sales Tax Payable, $48; credit Accounts Receivable/Auto Plastics, $713.

Trudy’s Trophies purchased merchandise for cash from Champ Awards for $250. The journal entry for Trudy’s Trophies to record this transaction is:

debit Purchases, $250; credit Cash, $250.

debit Cash, $250; credit Supplies, $250.

debit Cash, $250; credit Purchases, $250.

debit Supplies, $250; credit Cash, $250.

A General Journal entry is shown below. Which would be the correct posting for the entry?

debit Supplies-Store, $220; credit Accounts Payable-Control, $220, Accounts Payable/Shoe Shack, $220

debit Supplies-Store, $220; credit Accounts Payable/Shoe Shack, $220

debit Accounts Payable-Control, $220; credit Accounts Payable/Shoe Shack, $220

debit Accounts Payable/Shoe Shack, $220; credit Supplies-Store, $220

Belinda's Rare Books purchased merchandise for cash from Book Distributors for $900. The journal entry for Belinda's Rare Books to record this transaction is:

debit Purchases, $900; credit Cash, $900.

debit Accounts Payable/Book Distributors, $900; credit Purchases, $900.

debit Purchases, $900; credit Accounts Payable/Book Distributors, $900.

debit Cash, $900; credit Purchases, $900.

Tony's Custom Pool Cues accepted returned merchandise purchased on account by Third Street Pool for $806 plus sales tax of $52. The journal entry for Tony's Custom Pool Cues to record this transaction is:

debit Sales Returns and Allowances, $806, Sales Tax Payable, $52; credit Accounts Receivable/Third Street Pool, $858.

debit Accounts Payable/Third Street Pool, $858; credit Purchases Returns and Allowances, $858.

debit Sales Returns and Allowances, $806, Sales Tax Payable, $52; credit Accounts Payable/Third Street Pool, $858.

debit Accounts Receivable/Third Street Pool, $858; credit Sales Returns and Allowances, $806, Sales Tax Payable, $52.

The Lil Kids Candy store purchased jelly beans (merchandise) on account from Jelly Belly Supply for $250. The journal entry for Lil Kids Candy to record this transaction is:

debit Purchases, $250; credit Accounts Payable/Jelly Belly Supply, $250.

debit Purchases, $250; credit Accounts Receivable/Jelly Belly Supply, $250.

debit Accounts Receivable/Jelly Belly Belly Supply, $250; credit Purchases, $250.

debit Accounts Payable/Jelly Belly Supply, $250; credit Purchases, $250.

ABC Computers received $489 cash from Quality Electronics for payment on account. The journal entry for ABC Computers to record this transaction is:

debit Cash, $489; credit Accounts Receivable/Quality Electronics, $489.

debit Sales, $489; credit Accounts Receivable/Quality Electronics, $489.

debit Accounts Receivable/Quality Electronics, $489; credit Cash, $489.

debit Accounts Receivable/Quality Electronics, $489; credit Sales, $489.

Marty's Supply sold merchandise for cash to Karl's Karts for $325, plus sales tax of $27. The journal entry for Marty's Supply to record this transaction is:

debit Cash, $352; credit Sales, $325, Sales Tax Payable, $27.

debit Sales, $325, Sales Tax Payable, $27; credit Cash, $352.

debit Sales, $325, Sales Tax Payable, $27; credit Accounts Receivable/Karl's Karts, $352.

debit Accounts Receivable/Karl's Karts, $352; credit Sales $325, Sales, Tax Payable, $27.

The Jelly Belly Supply Store sold jelly beans to Just Sweets on account for $250, plus sales tax of $16. The journal entry for Jelly Belly Supply Store to record this transaction is:

debit Accounts Receivable/Just Sweets, $266; credit Sales $250, Sales Tax Payable, $16.

debit Purchases, $266; credit Accounts Receivable/Just Sweets, $266.

debit Sales, $250, Sales Tax Payable, $16; credit Accounts Receivable/Just Sweets, $266.

debit Accounts Receivable/Just Sweets, $266; credit Purchases, $250, Sales Tax Payable, $16.

Wayback Antique Supply sold Old Treasures merchandise on account for $137, plus sales tax of $8. The journal entry for Wayback Antique Supply to record this transaction is:

debit Accounts Receivable/Old Treasures, $145; credit Sales, $137, Sales Tax Payable, $8.

debit Accounts Receivable/Old Treasures, $145; credit Purchases, $137, Sales Tax Payable, $8.

debit Purchases, $137, Sales Tax Payable, $8; credit Accounts Receivable/Old Treasures, $145.

debit Sales, $137, Sales Tax Payable, $8; credit Accounts Receivable/Old Treasures, $145.

Impressive Signs paid cash on account to Peoria Paints, $513; covering Purchase Invoice No. 77 for $540, less a 5% discount, $27. The journal entry for Impressive Signs to record this transaction is:

debit Accounts Payable/Peoria Paints, $540; credit Purchases Discount, $27 and credit Cash, $513.

debit Accounts Payable/Peoria Paints, $513; credit Cash, $513.

debit Accounts Payable/Peoria Paints, $540; credit Cash, $540.

debit Purchases Discount, $27 and debit Cash, $513; credit Accounts Payable/Peoria Paints, $540.

4.01 & 4.02 Review

Authored by Conner Buddington

Business

9th Grade

Used 4+ times

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40 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The correct journal entry for the transaction PAID CASH FOR PRINTER CARTRIDGES is:

debit Owner's Drawing and credit Cash.

debit Cash and credit Owner's Capital.

debit Supplies and credit Cash.

debit Miscellaneous Expense and credit Cash.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Taco Home paid cash for advertising, $400. The journal entry to record this transaction is:

debit Advertising, $400; credit Cash, $400.

debit Advertising Expense, $400; credit Cash, $400.

debit Cash, $400; credit Advertising, $400.

debit Cash, $400; credit Advertising Expense, $400.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The correct journal entry for the transaction RECEIVED A CHECK FOR BIKE RENTAL FEES is:

debit Cash and credit Rental Fees.

debit Miscellaneous Expense and credit Cash.

debit Rental Fees and credit Cash.

debit Rental Fees and credit Miscellaneous Expense.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The correct journal entry for the transaction PAID CASH FOR RENT is:

debit Miscellaneous Expense; credit Cash.

debit Rent Expense; credit Cash.

debit Cash; credit Rent Expense.

debit Cash; credit Utilities Expense.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The transaction SOLD SERVICES ON ACCOUNT TO BETH PARKER would result in the journal entry:

debit Accounts Receivable/Beth Parker and credit Cash.

debit Accounts Receivable/Beth Parker and credit Sales.

debit Cash and credit Accounts Receivable/Beth Parker.

debit Cash and credit Sales.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Pesky Termite received $85 cash from Bad Wood Hotel for payment on account. The journal entry for Pesky Termite to record this transaction is:

debit Accounts Receivable/Bad Wood Hotel, $85; credit Cash, $85.

debit Cash, $85; credit Accounts Receivable/Bad Wood Hotel, $85.

debit Cash, $85; credit Sales, $85.

debit Sales, $85; credit Cash, $85.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Aquisha's Bookkeeping paid cash for the telephone bill, $134. The journal entry to record this transaction is:

debit Purchases, $134; credit Cash, $134.

debit Telephone Expense, $134; credit Cash, $134.

debit Cash, $134; credit Purchases, $134.

debit Cash, $134; credit Telephone Expense, $134.

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