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:

Subliminally

In a manner that affects someone's mind without them being fully aware of it; influencing subconscious perception.

Conscious Awareness

The state of being aware of one's surroundings, actions, thoughts, or feelings.

Recognizing

The cognitive process of identifying previously encountered information, objects, or situations.

Parallel Processing

The brain's capacity to process multiple components of information simultaneously.