Author Question: List the four most common special journals used in accounting and describe the transactions recorded ... (Read 75 times)

berenicecastro · **on:** Jul 5, 2018

List the four most common special journals used in accounting and describe the transactions recorded in eachjournal.

Question 2

Which of the following accounts is increased with debits?

a. assets and liabilities
b. liabilities and equity
c. assets and expenses
d. liabilities and expenses

memslove · **Reply #1 on:** Jul 5, 2018

Answer to Question 1

Purchases journal - for purchases made on accountRevenue journal - for sales made on account
Cash receipts journal - for all cash receipt transactionsCash payment journal - for all cash payment transactions

Answer to Question 2

c