.Please match the following transactions for CMC (Calrissian Mining Company) with the appropriate special journal Calrissian purchased $1,800 of merchandise on account from Fett Co., terms 2/15,n/30 Calrissian paid salaries $87,425 in cash Calrissian sold merchandise costing $1,492 on account 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 Purchases Journal Cash Disbursements Journal Sales Journal Cash Receipts Journal Solution 1. Calrissian purchased $1,800 of merchandise on account from Fett Co., terms 2/15,n/30 (Purchase Journal) [ Special journal in which all purchases are recorded first, before being transferred to the main ledger or subsidiary ledger(s).] 2. Calrissian paid salaries $87,425 in cash (Cash Disbursements Journal) [ A record kept by accountants to record all financial expenditures made by a company. Cash disbursement journals serve a number of functions, such as a source for recording tax write-offs and the categorization of other expenses. This journal essentially functions as a checkbook ledger, for all practical purposes.] 3. Calrissian sold merchandise costing $1,492 on account to Organa Industries for $1,776, subject to a $55 sales discount if paid by the end of the month (Sales Journal) [ Book of first entry for sales invoices issued to customers for goods supplied or services rendered. Entries from this journal are posted to individual customer accounts, their totals are posted to the ledger as a debit to accounts receivable and as a credit to sales.] 4. Empire (a new partial owner in CMC) contributed $16,800 cash to the company (Cash Receipts Journal) [ A Cash receipts journal is a specialized accounting journal used in an accounting system to keep track of the sales of items when cash is received, by crediting sales and debiting cash. Sales on account are booked instead in the sales journal] .

1. .Please match the following transactions for CMC (Calrissian Mining Company) with the
appropriate special journal
Calrissian purchased $1,800 of merchandise on account from Fett Co., terms 2/15,n/30
Calrissian paid salaries $87,425 in cash
Calrissian sold merchandise costing $1,492 on account 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
Purchases Journal
Cash Disbursements Journal
Sales Journal
Cash Receipts Journal
A. Purchases Journal
B. Cash Disbursements Journal
C. Sales Journal
D. Cash Receipts Journal
Solution
1. Calrissian purchased $1,800 of merchandise on account from Fett Co., terms 2/15,n/30
(Purchase Journal)
[ Special journal in which all purchases are recorded first, before being transferred to the main
ledger or subsidiary ledger(s).]
2. Calrissian paid salaries $87,425 in cash (Cash Disbursements Journal)

2. [ A record kept by accountants to record all financial expenditures made by a company. Cash
disbursement journals serve a number of functions, such as a source for recording tax write-offs
and the categorization of other expenses. This journal essentially functions as a checkbook
ledger, for all practical purposes.]
3. Calrissian sold merchandise costing $1,492 on account to Organa Industries for $1,776,
subject to a $55 sales discount if paid by the end of the month (Sales Journal)
[ Book of first entry for sales invoices issued to customers for goods supplied or services
rendered. Entries from this journal are posted to individual customer accounts, their totals are
posted to the ledger as a debit to accounts receivable and as a credit to sales.]
4. Empire (a new partial owner in CMC) contributed $16,800 cash to the company (Cash
Receipts Journal)
[ A Cash receipts journal is a specialized accounting journal used in an accounting system to
keep track of the sales of items when cash is received, by crediting sales and debiting cash. Sales
on account are booked instead in the sales journal]