Examlex
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.
-Returned some damaged merchandise to a supplier and received a credit memorandum.
Federal Common Law
Federal common law refers to laws developed by Federal courts in the absence of detailed statutory guidance, often based on precedent or principles derived from the U.S. Constitution.
Vicariously Liable
The legal principle where one party is held liable for the actions of another party, such as an employer for the acts of its employees.
Mental Fault
A legal concept referring to the intentional or reckless state of mind of a defendant necessary for certain offenses or torts.
Hot Pursuit
A legal principle that allows law enforcement officers to cross jurisdictional lines in pursuit of a fleeing suspect.
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