Session 7.doc - MURDOCH UNIVERSITY BUSINESS GOVERNANCE BUS285 TECHNOLOGY ACCOUNTING PROCESSES LECTURE 7 WORKSHEET Question 1 Indicate in which journal

Session 7.doc - MURDOCH UNIVERSITY BUSINESS GOVERNANCE...

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MURDOCH UNIVERSITY BUSINESS & GOVERNANCE BUS285 TECHNOLOGY & ACCOUNTING PROCESSES LECTURE 7 WORKSHEET Question 1 Indicate in which journal the following transactions are most likely to be recorded: Transaction Journal Issue of shares for cash Cash Receipts Purchase of office equipment on credit General Journal The cash payment of rent in advance Cash Payments Inventory purchased on credit Purchases Cash refund to customer who returned goods purchased Cash Payment The reversing entry for an adjusting entry in the previous period General Journal Withdrawal of inventory by owner for personal use General Journal Receipt of payment from a customer Cash Receipts Inventory purchased on credit returned to supplier General Journal Sale of inventory to customer on credit Sale The adjusting entry for unused office supplies General Journal Cash sales Cash Receipts Sale of office equipment on credit General Journal The introduction of cash and office equipment by
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