Activity 2: Classify the transaction to the appropriate journal where it will be recorded.
• Cash sales - Sales Journal
• Cash collection from receivable - Cash Receipts Journal
• Interest income received - General Journal
• Interest Expense paid in cash - Cash Disbursement
Journal
• Depreciation expense for equipment - General Journal
• Payment of utilities - Cash Disbursement Journal
• Cash drawings of owner - General Journal
• Cash contributions from owners - General Journal
• Cash Payment of loans - Cash Disbursement Journal
• Purchase of inventory - Purchases Journal
• Deliveries made to customer - Sales Journal
• Payment of salaries - Cash Disbursement Journal
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Answers & Comments
HELLO FOLK
Activity 2: Classify the transaction to the appropriate journal where it will be recorded.
• Cash sales - Sales Journal
• Cash collection from receivable - Cash Receipts Journal
• Interest income received - General Journal
• Interest Expense paid in cash - Cash Disbursement
Journal
• Depreciation expense for equipment - General Journal
• Payment of utilities - Cash Disbursement Journal
• Cash drawings of owner - General Journal
• Cash contributions from owners - General Journal
• Cash Payment of loans - Cash Disbursement Journal
• Purchase of inventory - Purchases Journal
• Deliveries made to customer - Sales Journal
• Payment of salaries - Cash Disbursement Journal
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