Question

Wilcox Electronics uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Identify the journal in which each transaction should be recorded.

Answer 1

Step-by-step explanation:

1. Purchase office supplies on credit =

Purchases journal

2. Paid Cash For Office Supplies =

Cash payments journal

3. Received Cash in Payment of Customer Account = Cash receipt journal

4. Purchase Store supplies on credit= Purchases journal

5. The owner contributed cash to the business = Cash receipt journal

6. Paid an Employee's salary in Cash = Cash payments journal

7. Sold a Machine (nonmerchandise) on credit = Sales journal

8. Sold a Machine on credit = Sales journal

The purchase journal is used by companies to record all purchases that are made on credit.

The sales journal is used by companies to record all the sales that are made on credit.