Wick Company uses the columnar cash journals illustrated in the textbook. In Apr

Question

Wick Company uses the columnar cash journals illustrated in the textbook. In April, the following selected cash transactions
occurred.
1. Made a refund to a customer for the return of damaged goods.
2. Received collection from customer within the 3% discount period.
3. Purchased merchandise for cash.
4. Paid a creditor within the 3% discount period.
5. Received collection from customer after the 3% discount period had expired.
6. Paid freight on merchandise purchased.
7. Paid cash for office equipment.
8. Received cash refund from supplier for merchandise returned.
9. Withdrew cash for personal use of owner.
10. Made cash sales.
Instructions
Indicate the journal and the columns in the journal that should be used in recording each transaction. For the columns in the journal
portion of the answer using the appropriate letter from the choices shown below.
a. Cash (Cr.), Other Accounts (Dr.)
b. Cash (Dr.), Sales Discounts (Dr.), and Accounts Receivable (Cr.)
c. Cash (Dr.), Accounts Receivable (Cr.)
d. Cash (Dr.), Sales (Cr.), Cost of Goods Sold (Dr.), and Merchandise Inventory (Cr.)
e. Cash (Cr.), Merchandise Inventory (Cr.), and Accounts Payable (Dr.)
f. Cash (Dr.), Other Accounts (Cr.)
g. Cash (Cr.), Sales Discounts (Cr.), and Accounts Receivable (Dr.)
h. Cash (Cr.), Accounts Receivable (Dr.)
i. Cash (Cr.), Sales (Dr.), Cost of Goods Sold (Cr.), and Merchandise Inventory (Dr.)
j. Cash (Dr.), Merchandise Inventory (Dr.), and Accounts Payable (Cr.)

Explanation / Answer

The above answers are not correct

1.other accounts(dr) Cash(cr)

2. Cash(dr) Sales discounts(dr) Accounts Recievable(cr)

3.other accounts(dr) cash(cr)

4.Accounts payable(dr) Cash(cr) Inventory(cr)

5. Cash(dr) accounts receivable(cr)

6. other accounts(dr) Cash(cr)

7.other accounts(dr) Cash(cr)

8. cash(dr) other accounts(cr)

9.other accounts(dr) Cash(cr)

10. cash(dr) cost of goods sold(dr) invebtory(cr) sales revenue(cr)

I know these are correct because they have already been graded

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