Several Transactions of the Fleming Company Are Listed Below:
$\quad$

question 67

Essay

Several transactions of the Fleming Company are listed below:
Sept. 1 $\quad$ Sold $\$ 5,000$ on account to Busy Co., terms $2 / 10,1 / 30$ .
Sept. 3 $\quad$ Made cash sales of $\$ 2,000$ to Cable Co.
Sept.7 $\quad$ Collected from Busy Co.
Sept. 9 $\quad$ Soldland for $\$ 3,400$ to Dumpling Inc. Dumpling Inc. made a $\$ 900$ down payment and signed a 60 -day, $12 \%$ note fo the balance. The land had originally cost $\$ 2,700$ .

Two special journals are presented below.
Required:
Indicate how each transaction would be recorded in the special journals by placing account titles and amount(s)in the correct columns.

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Definitions:

Neglected-firm Effect

A theory suggesting that lesser-known, smaller companies can provide higher returns than their larger counterparts due to lack of analyst coverage.

Excess Returns

Returns on an investment that exceed a benchmark or average return, indicating higher-than-expected performance.

Abnormal Returns

Returns on a security or portfolio that exceed what is predicted by market models, such as the CAPM, indicating outperformance.

Hyman Minsky

An American economist known for his theories on financial instability and the inherent tendency of financial markets to move towards crisis.