Reference no: EM13590236

The transactions completed by Franklin Company during January, its first month of operations, are listed below. Assume that Franklin Company uses the following journals: Cash Receipts (CR), Cash Payments (CP), Revenue (R), Purchases (P), and General (G). Assume that it uses Accounts Receivable and Accounts Payable Subsidiary Ledgers as well as a General Ledger. Indicate by letters which journal would be used for each transaction. Also indicate if the entry requires a posting to a subsidiary ledger.A. Cash Payments (CP)B. Purchases (P), subsidiary postingC. Revenue (R), subsidiary postingD. Cash Receipts (CR), subsidiary postingE. Cash Payments (CP), subsidiary postingF. Cash Receipts (CR)G. General (G)H. Revenue (R)I. Purchases (P)J. General (G), subsidiary postingABCDEFGHIJPurchased supplies on accountABCDEFGHIJPaid for the equipment purchased on accountABCDEFGHIJPurchased equipment on accountABCDEFGHIJIssued check for salaryABCDEFGHIJReceived a check from a customer for payment on accountABCDEFGHIJRecorded the adjustment for supplies used during the monthABCDEFGHIJIssued check for purchase of suppliesABCDEFGHIJPurchased a computer for cashABCDEFGHIJIssued an invoice to a customerABCDEFGHIJIssued check for a payment on accountABCDEFGHIJIssued check for rentABCDEFGHIJReceived cash for a saleABCDEFGHIJIssued check for advertising expense