The Woodview Company uses a sales journal, purchases journal, cash receipts journal,

cash disbursements journal, and general journal. They use the perpetual method. The
following transactions occurred during the current month of December:

Record the above transactions into the appropriate journals

shown below.

2- The following special journal is taken from a merchandising company that uses the
perpetual inventory system:

1. What is the name of the journal shown above?

2. Write an explanation for each entry in this journal.
3. What do the numbers in parentheses at the bottom of the journal indicate?

1. This is a cash receipts journal (perpetual system).

2. Journal entries explanation:

3. The numbers indicate that the column totals have been posted to the
accounts indicated. For instance, the 411 indicate that $6,815 was posted as
a credit to the sales account.