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2 years ago

Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches.

Business

1 answer:

Stolb23 [73]2 years ago

3 0

Answer:

Matching transactions to the journal in which they would be entered:

Transactions Journal Type

1. Recognized depreciation on the building General Journal

2. Journalized the adjusting entry for supplies

used during the period General Journal

3. Closed the revenue account at the end

of the period General Journal

4. Received cash from the bank in exchange

for a note payable Cash Receipts Journal

5. Withdrew cash for personal use (by owner) Cash Payments Journal

Explanation:

Revenue journal records revenue transactions.

Cash receipts journal records all cash receipts.

Purchases journal records all purchases on account.

Cash payments journal records all cash payments.

General journal is used for all transactions, especially those that cannot be recorded in any of the other specialized journals.

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Answer:

Explanation:

To accrue means to grow or to accumulate over time. In accrual accounting, if the revenue recognition criteria are met in the current period, revenue will need to be accrued in the current accounting period even if cash will not been received until a later accounting period.

Accrued revenues is a type of account that require adjustment, to register the unrecorded revenues that have been earned and for which cash has not yet to be received.

The accrual journal entry to record the sale involves a debit to the accounts receivable account and a credit to sales revenue. If the sale is for cash, debit cash instead. The revenue earned will be reported as part of sales revenue in the income statement for the current accounting period.

It is the same for accrued revenue and for revenue on account.

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andreyandreev [35.5K]

Answer:

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