Assuming the use of a two-column (all-purpose) general journal, a revenue journal, and a cash receipts journal as illustrated in this chapter, indicate the journal in which each of the following transactions should be recorded:
a. Providing services for cash.
b. Closing of drawing account at the end of the year.
c. Receipt of cash from sale of office equipment.
d. Sale of office supplies on account, at cost, to a neighboring business.
e. Receipt of cash on account from a customer.
f. Receipt of cash for rent.
g. Adjustment to record accrued salaries at the end of the year.
h. Receipt of cash refund from overpayment of taxes.
i. Investment of additional cash in the business by the owner.
j. Providing services on account.
Answer:
a. Cash receipts journal
b. General journal
c. Cash receipts journal
d. General journal (not a revenue transaction)
e. Cash receipts journal
f. Cash receipts journal
g. General journal
h. Cash receipts journal
i. Cash receipts journal
j. Revenue journal