Business, 13.02.2020 19:41 Brock2002

The accounting system of K and M Manufacturing consists of a general journal (GJ), a cash receipts journal (CR), a cashdisbursements journal (CD), a sales journal (SJ), and a purchases journal (PJ). For each of the following, indicate whichjournal should be used to record the transaction. Transaction Journal1. Paid interest on a loan. 2. Recorded depreciation expense. 3. Purchased furniture for cash. 4. Purchased merchandise on account. 5. Sold merchandise on credit (the sale only, not the costof the merchandise)6. Sold merchandise for cash (the sale only, not the costof the merchandise).7. Paid rent. 8. Recorded accrued interest payable. 9. Paid advertising bill. 10. Recorded bad debt expense. 11. Sold machinery on credit. 12. Collected cash from customers on account. 13. Paid employees wages. 14. Collected interest on a note receivable.

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The accounting system of K and M Manufacturing consists of a general journal (GJ), a cash receipts j...

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