For Each of the Following Transactions,state Which Special Journal Should

question 151

Essay

For each of the following transactions,state which special journal should be used to record the transaction.In addition,state which columns will be used.
Transaction 1: Freeworld Co.paid $1,500 for monthly utilities,on the date the bill was received.
Which special journal?
Which columns are used to record the transaction?
Transaction 2: Wideworld Co.purchased office supplies on account.
Which special journal?
Which columns are used to record the transaction?
Transaction 3: Wonderworld Co.sold $5,000 of merchandise inventory to A.Allen,on account.The cost of the merchandise inventory was $3,200.The company uses a perpetual inventory system.
Which special journal?
Which columns are used to record the transaction?
Transaction 4: Oneworld Co.borrowed $10,000 from World National Bank.
Which special journal?
Which columns are used to record the transaction?

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Definitions:

Self-efficacy

An individual's belief in their own ability to succeed in specific situations or accomplish a task, which plays a significant role in how goals, tasks, and challenges are approached.

Confidence

The belief in oneself and one's ability to succeed, influencing how challenges and opportunities are approached.

Observational Learning

A form of learning that occurs through watching the behaviors of others and the outcomes of those behaviors.

Reinforcing Factors

Elements or conditions that support the continuation or strengthening of behavior through positive or negative reinforcement.