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:

Primary Analysis

The initial examination and interpretation of data or findings from a study, focusing on the main objectives without extending into more nuanced or secondary inquiries.

Prefrontal Lobotomy

A surgical procedure used in the past to treat certain mental disorders by cutting the connections to and from the prefrontal cortex, the anterior part of the frontal lobes of the brain.

ECT

Electroconvulsive Therapy, a psychiatric treatment in which seizures are electrically induced in patients to provide relief from severe mental disorders.

Behavior Therapy

A type of psychotherapy that focuses on changing unhealthy or destructive behaviors through reinforcement strategies and conditioning.