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Check my work Check My Work button is not enabled Item 1Item 1 1.11 points QS 7-9 Identifying journal of entry LO P1, P2, P3, P4 Peachtree Company uses sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Identify the journal in which each of the transactions should be recorded.

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Answer:

Purchases and Sales made on account/ bought on credit will go to the Purchases or Sales journal respectively. When transactions are done in cash, payments go to the Cash Payments Journal and cash received goes to the Cash Receipts Journal.

  • May 1 - Purchase Journal.
  • May 8 - Sales Journal.
  • May 14 - Purchases Journal
  • May 17 - Purchase Journal
  • May 24 - Cash Receipt Journal
  • May 28 - Cash Payments Journal
  • May 29 - Cash Payments Journal

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