EX 5-20 Identify postings from special journals
ViewPoint Consulting Company makes most of its sales and purchases on credit. It uses the five journals described in this chapter (revenue, cash receipts, purchases, cash payments, and general journals). Identify the journal most likely used in recording the postings for selected transactions indicated by letter in the T accounts below:
| Cash | Prepaid Rent | |||||||
| a. | 10,940 | b. | 6,500 | e. | 1,200 | |||
| Accounts Receivable | Accounts Payable | |||||||
| c. | 11,790 | a. | 10,940 | b. | 6,500 | d. | 7,400 | |
| Office Supplies | Fees Earned | |||||||
| d. | 7,400 | c. | 11,790 | |||||
| Rent Expense | ||||||||
| e. | 1,200 | |||||||
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