Read Each Transaction and Identify the Appropriate Journal in Which

question 33

Essay

Read each transaction and identify the appropriate journal in which it should be recorded.​
1. Owner withdrew supplies
2. Sale made on account
3. Payment to vendor on account
4. Payment received from customer on account
5. Purchases on account
6. Adjusting journal entry for supplies used
7. Owner withdrew cash
8. Company borrows money from bank
9. Record monthly depreciation
10. Close revenue accounts at month's end

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Definitions:

Fat Cells

Also known as adipocytes, these cells store energy in the form of fat and play an important role in energy balance.

Drive Theory

A theory in psychology that posits that behavior is motivated by drives that arise from biological needs that demand satisfaction.

Homeostasis

The ability of a living organism to maintain internal stability by adjusting its physiological processes.

Drive-Reduction

A theory of motivation that posits that behavior is driven by the need to reduce internal states of tension caused by unmet biological needs.