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In-s [12.5K]
2 years ago
15

Sam​ Snead, the owner of​ Snead's Fine Golf​ Wear, used $1800 of his personal funds to go on vacation. Which of the following is

the most appropriate treatment regarding this​ transaction? A. Travel expense 1,800 Cash 1,800 B. Withdrawals 1,800 Cash 1,800 C. Record a memorandum in the general journal D. Do not record the transaction in the general journal
Business
1 answer:
AveGali [126]2 years ago
4 0

Answer:

D. Do not record the transaction in the general journal

Explanation:

There is no need to record the transaction in the general journal since the money that was actually spend by Sam Snead happens to be his own personal <em>fund rather than the company's fund (That is, the Golf Wear company). Funds belonging to the company are those that deserve to be recorded in the general journal.</em>

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