Record the following purchases and sales transactions for Manioc Corp. using the general journal form provided below. Assume Manioc uses a periodic inventory system. Omit transaction descriptions from entries. 
Definitions:
Descending Order of Liquidity
Ranking assets on a balance sheet from the most liquid (easily converted into cash) to the least liquid.
Debt and Equity Financing
The methods by which a company raises capital to finance its operations or expand its business, involving borrowing (debt) or selling shares (equity).
Investing Activities
Transactions and events that involve the purchase and sale of long-term assets and other investments not generally considered cash equivalents.
Capital to Purchase Fixed Assets
Financial resources allocated for the purchase of long-term physical assets that a company uses in its operations.
Q1: Which of the following accounts should be
Q1: When the end-of-period spreadsheet is complete, the
Q4: Average cost is rarely used with this
Q11: The balances for the accounts listed below
Q72: During periods of increasing costs, an advantage
Q105: Classify the following items as: (1) prepaid
Q117: Accounts in the ledger are usually maintained
Q171: On March 15, Monroe Sales sells $9,525.00
Q181: If the debit portion of an adjusting
Q181: The use of reversing entries is<br>A)required.<br>B)required whenever