Ex. 74 Listed below are various column headings that may appear in special journals. Using the following code letters, identify for each column heading (1) the special journal where the column...

Ex. 74

Listed below are various column headings that may appear in special journals. Using the following code letters, identify for each column heading (1) the special journal where the column heading would appear, and (2) whether the amounts entered under the column heading would be posted in total, individually, or both in total and individually. (Note: column headings may appear in more than one special journal)

Code:Special JournalsCode:Posting

S=Sales journalI=Individual posting

P=Single-column purchases journalT=Total posting

CR=Cash receipts journalB=Both individual and total posting

CP=Cash payments journal

HeadingSpecial JournalPosting

1. Accounts Payable—Cr.

2. Sales Revenue—Cr.

3. Sales Discounts—Dr.

4. Inventory—Dr.

5. Cash—Cr.

6. Accounts Receivable—Dr.

7. Other Accounts—Cr.

8. Inventory—Cr.

9. Accounts Receivable—Cr.

10. Accounts Payable—Dr.