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What journal would the transactions be recorded

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Reference no: EM132497881

Question 1: In what journal would the following transactions be recorded? (Assume that a two-column sales journal and a single-column purchases journal are used.)

(a) Cash received from signing a note payable.

(b) Investment of cash by the owner of the business.

(c) Closing of the expense accounts at the end of the year.

(d) Purchase of merchandise on account.

(e) Credit received for merchandise purchased and returned to supplier.

(f) Payment of cash on account due a supplier.

Reference no: EM132497881

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