91Ó°ÊÓ

A general journal is used to record transactions that are general in nature. This journal records the transactions that are not related to any of the other special-purpose journals.

From the given transaction, the following transactions would be recorded under General Journal –

i)Depreciation of computer equipment

l) Expiration of prepaid insurance

A sales journal is a special purpose journal that is used to record sales transactions on the account.

From the given list, the following transactions would be recorded under Sales Journal –

f) Cost of goods sold along with a credit sale

m) Sale on account

A cash receipts journal is used to record any cash receipt-related transactions. These transactions can be related to sales revenue, receivables recovery, other revenue, etc.

From the given list, the following transactions would be recorded under the Cash receipts Journal –

b) Collection of dividend revenue earned on an investment

d) Borrowing money on a long-term note payable

g)Cash sale of merchandise inventory

k) Collection of accounts receivable

A purchase journal is used to record the purchases on account. These purchases can be for merchandise, assets, or any other resources.

From the given list, the following transactions would be recorded under the Purchase Journal –

e)Purchase of equipment on account

j) Purchase of merchandise inventory on account

Any type of transaction involving cash payment is recorded under this journal.

From the given list, the following transactions would be recorded under the Cash Payment Journal –

a)Cash purchase of merchandise inventory

c)Prepayment of insurance

h) Payment of rent

n) Payment on account