Ask Question
12 December, 00:17

Greenleaf Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the cash payments journal.

June 3 Issued Check No. 380 to Skipp Corp. to buy office supplies for $615.

5 Purchased merchandise for $7,000 on credit from Buck Co., terms n/15.

20 Issued Check No. 381 for $7,000 to Buck Co. to pay for the purchase of June 5.

23 Paid salary of $8,600 to T. Bourne by issuing Check No. 382.

26 Issued Check No. 383 for $11,750 to pay off a note payable to UT Bank.

Date Ck. No Payee Account debited Cash Inventory Other Accounts

Cr. Cr. accounts payable

Dr. Dr.

+1
Answers (1)
  1. 12 December, 03:26
    0
    Greenleaf Company

    Cash Payments Journal:

    Date Description Debit Credit

    June 3 Office Supplies $615

    Cash Account $615

    To record the issue of check No. 380 to Skipp Corp for office supplies.

    June 20 Accounts Payable (Buck Co.) $7,000

    Cash Account $7,000

    To record the issue of check No. 381 to Buck Co for inventory.

    June 23 Salary (T. Bourne) $8,600

    Cash Account $8,600

    To record the issue of check No. 382 for salary to T. Bourne.

    June 26 Note Payable (UT Bank) $11,750

    Cash Account $11,750

    To record the issue of check No. 383 to pay off a note payable.

    Explanation:

    A cash payments journal is one of the specialized journals that can be used to initiate the recording of a business transaction, especially with regard to cash payments. Like all journals, it shows the account to be debited and the one to be credited in the general ledger.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Greenleaf Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers