Reference no: EM132796028

Question - Special Journals - Elmira Company is a Merchandising company and has grown in size over the last few years and has decided to expand its Accounting System.

For each of the following items, identify which Journal should be used to record the transaction:

1) Issued check #154 for $10,000 for payment of account payable.

2) Cash Sales for the month $6500.

3) Sold merchandise on account to XYZ Co $8,700: Terms 02/10 , N/30

4) Purchased merchandise on Account from Levi Jeans $18,000 terms 2/15, N/EOM

5) Recorded the year end Adjusting Entries.

6) Purchased supplies for cash $4,500.

8) Received Cash Payment from Customer $5,600.

9) Recorded the Book Adjustments from our December Bank Reconciliation.

10) Customer X returned $3,000 of defective merchandise for credit.