For Each of the Transactions Listed Below, Select the Journal

question 82

Multiple Choice

For each of the transactions listed below, select 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.
-Received an additional cash investment from the owner

• A)CR for cash receipts journal
• B)CP for cash payments journal
• C)S for sales journal
• D)P for purchases journal
• E)G for general journal.

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Definitions:

Equipment Acquisitions

Refers to the process of obtaining physical assets for use in production or administrative purposes.

Capital Budget

A financial plan allocating resources for the acquisition or maintenance of long-term assets like property, plants, and equipment.

Variable Operating

Variable Operating Costs are expenses that fluctuate with the level of business activity, including costs like supplies and utilities directly tied to operation levels.

Fixed Expenses

Expenses that remain constant regardless of the level of production or sales, including rent, salaries, and insurance premiums.