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What is the role of the accounting journal

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Reference no: EM132626450

Questions -

Q1. What is the role of the accounting journal?

Q2. What is the ledger?

Q3. Provide journal entries for the following transactions:

a. paid wages of $10 000 with cash on 5 January 2021

b. purchased $150 000 of inventory from a supplier on credit terms on 10 January 2021

c. purchased some office furniture for $50 000 with cash on 12 January 2021

d. paid amount owing of $150 000 to a supplier of inventory on 17 January 2021.

Reference no: EM132626450

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