Shown Below Is a Page from a Special Journal

question 19

Essay

Shown below is a page from a special journal.
1. What is the name of this journal?
2. Give an explanation for each of the transactions in this journal.
3. Explain the following:
(a) the numbers under the bottom lines.
(b) the checks entered into the Ref. column.
(c) the numbers 113 and 416 in the Ref. column.
(d) the (x) below the Other Accounts column.

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Definitions:

T Account

A visual representation of a general ledger account that helps in understanding the effects of transactions on each account.

Copyrights

Legal rights granted to creators for the protection of their original works, preventing unauthorized reproduction, distribution, or alteration.

Credit Side

The right side of an accounting ledger where credits are recorded, typically indicating an increase in liabilities or revenues or a decrease in assets or expenses.

Journalizing

The process of recording transactions in a journal. This is the first step in the accounting cycle, where financial transactions are initially recorded.