Below are some typical transactions incurred by Costello Company.
| 1. Payment of creditors on account. Don't use plagiarized sources. Get Your Custom Essay on below are some typical transactions incurred by costello company 543526 For $10/Page 0nly | 8. Sales discount taken on goods sold. |
| 2. Return of merchandise sold for credit. | 9. Payment of employee wages. |
| 3. Collection on account from customers. | 10. Paid a cash dividend to stockholders. |
| 4. Sale of land for cash. | 11. Depreciation on building. |
| 5. Sale of merchandise on account. | 12. Purchase of office supplies for cash. |
| 6. Sale of merchandise for cash. | 13. Purchase of merchandise on account. |
| 7. Received credit for merchandise | |
| purchased on credit. |
Instructions
For each transaction, indicate whether it would normally be recorded in a cash receipts journal, cash payments journal, sales journal, single-column purchases journal, or general journal.
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