For Each of the Transactions Listed Below, Identify the Journal

question 71

Short Answer

For each of the transactions listed below, identify the journal that should be used to record the transaction. Use CR for cash receipts journal, CP for cash payments journal, S for sales journal, P for purchases journal, and G for general journal.
A. Issued a check to a supplier as a payment on account.
B. Purchased merchandise; the supplier's invoice, which includes a freight charge, has payment terms of 2/10, n/30.
C. Returned some damaged merchandise to a supplier and received a credit memorandum.
D. Received an allowance for some merchandise that was slightly damaged but can be sold at a reduced price; received a credit memorandum.
E. Purchased merchandise with terms of net 30 days.

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Definitions:

Empty Praise

Compliments or commendations without genuine backing or substance, which may not have a positive impact on the recipient.

Inflated Self-esteem

An excessively high regard for one's own self-worth or abilities, often without sufficient grounds or reality.

Deflated Self-esteem

A lowered sense of one's own value or worth.

High Self-esteem

A positive evaluation of oneself, marked by confidence and feeling of worthiness.