Shown Below Is a Page from a Special Journal

question 60

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 Post. Ref. column.
(c) the numbers 113 and 416 in the Post. Ref. column.
(d) the (x) below the Other Accounts column. 11eb1392_1bea_af6a_8021_958fa69abcab

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Definitions:

S & L Debacle

Refers to the financial crisis involving Savings and Loan associations in the United States during the 1980s, leading to significant regulatory changes and economic impacts.

Transaction Motive

The need to hold money for the purpose of conducting everyday transactions.

Precautionary Cash

Funds held by individuals or firms to deal with unexpected events or emergencies, providing a buffer against financial issues.

Credit Availability

The ease with which individuals or companies can obtain loans or other forms of credit from financial institutions.