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    Journalizing Debit Credit 1. Bought Merchandise Terms n/60. Purchases Accounts Payable

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    acctg2012
    This document provides a list of 25 journal entries with debit and credit accounts. It covers common business transactions including purchasing and selling inventory, paying expenses, receiving payments, adjusting accounts, and recording owner contributions and withdrawals. The journal entries follow basic accounting principles of debits and credits to record financial transactions for a business.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Journalizing Debit Credit 1. Bought Merchandise Terms n/60. Purchases Accounts Payable

    Uploaded by

    acctg2012
    451 views2 pages
    This document provides a list of 25 journal entries with debit and credit accounts. It covers common business transactions including purchasing and selling inventory, paying expenses, receiving payments, adjusting accounts, and recording owner contributions and withdrawals. The journal entries follow basic accounting principles of debits and credits to record financial transactions for a business.

    Original Description:

    Journal Entries

    Original Title

    JOURNALIZING

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    This document provides a list of 25 journal entries with debit and credit accounts. It covers common business transactions including purchasing and selling inventory, paying expenses, receiving payments, adjusting accounts, and recording owner contributions and withdrawals. The journal entries follow basic accounting principles of debits and credits to record financial transactions for a business.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    451 views2 pages

    Journalizing Debit Credit 1. Bought Merchandise Terms n/60. Purchases Accounts Payable

    Uploaded by

    acctg2012
    This document provides a list of 25 journal entries with debit and credit accounts. It covers common business transactions including purchasing and selling inventory, paying expenses, receiving payments, adjusting accounts, and recording owner contributions and withdrawals. The journal entries follow basic accounting principles of debits and credits to record financial transactions for a business.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    JOURNALIZING

    DEBIT CREDIT

    1. Bought merchandise terms n/60. Purchases Accounts Payable

    2. Sold merchandise for cash. Cash Sales

    3. Bought tables and chairs on credit. Furn.& Fixtures. Accounts Payable

    4. Received a promissory note for


    merchandise sold. Note Receivable Sales

    5. Cash sales. Cash Sales

    6. Paid the rent of the office. Rent Expense Cash

    7. Then owner made an additional


    Investment of merchandise Merchandise Owner’s Capital

    8. Cash purchases Purchases Cash

    9. Paid freight on merchandise bought. Freight In Cash

    10. Received cash refund for merchandise


    returned. Cash Purchase Ret.& Allow.

    11. Issued a promissory note for


    merchandise purchased. Purchases Note Payable

    12. Paid freight on merchandise sold. Freight Out Cash

    13. Paid cash for merchandise returned. Sales Ret. & Allow. Cash

    14. Received cash from a tenant as


    Payment of rental. Cash Rental Income

    15. The owner withdrew merchandise


    for his personal use. Owner’s Drawing Merchandise

    16. Received a credit memo for


    merchandise returned. Accounts Payable Purchase Ret. & Allow.

    17. Paid cash for merchandise returned. Sales Ret. & Allow. Cash
    18.. Paid freight on the tables bought. Furn. & Fixtures Cash

    19. Issued a cxredt memo for


    merchandise returned. Sales Ret. & Allow Accounts Rec’ble.

    20. Returned defective tables bought


    on account. Accounts Payable Furn. & Fixtures

    21. Issued a promissory note in payment


    of an account which is due. Accounts Payable Note Payable

    22. A buyer paid freight on terms


    FOB Destination-freight collect. Freight Out Accounts Rec’ble.

    23. Received a promissory note as


    payment of an account due. Note Receivable Accounts Rec’ble.

    24. A seller paid freight on terms


    FOB Shipping Point-freight prepaid. Accounts Receivable Cash

    25. The owner paid the tuition of her


    daughter out of the cash withdrawn
    from the office. Owner’s Drawing Cash\

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