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Please match the following transactions for CMC (Calrissian

Please match the following transactions for CMC (Calrissian Mining Company) with the appropriate special journal.
- Calrissian purchased $1,800 of merchandise on credit from Fett Co., terms n/15
- Calrissian paid salaries $87,425 in cash
- Calrissian sold merchandise costing $1,492 on credit to Organa Industries for $1,776, subject to a $55 sales discount if paid by the end of the month.
- Empire (a new partial owner in CMC) contributed $16,800 cash to the company

Which one of the statements do the following go to?
A. Purchases Journal
B. Cash Disbursements Journal
C. Sales Journal
D. Cash Receipts Journal

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Answer
- Calrissian purchased $1,800 of merchandise on credit from Fett Co., terms n/15 (A)
- Calrissian paid salaries $87,425 in cash (B)
- Calrissian sold merchandise costing ...

Solution Summary

The following posting helps with problems involving financial statements. Concepts covered include salaries, credit, merchandise, sales discounts, cash receipts and financial journals (purchases journals, cash disbursement journals, sales journals and cash receipts journals.

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