Identifying errors in special journals For each transaction listed, identify the recording error and indicate the journal that should have been used.
a. Henry Associates paid $490 on account for an earlier purchase Purchases journal of merchandise inventory.
b. Recorded depreciation expense for the month. Cash payments journal
c. Collected interest revenue. Cash receipts journal
d. Sold merchandise inventory on account. Cash receipts journal
e. Issued check no. 535 for purchase of merchandise inventory. Purchases journal
f. Returned damaged inventory that was purchased on account. Purchases journal
g. Sold merchandise inventory for cash. Sales journal

a. Cash Payments Journal

b.General Journal

c.Cash Receipts Journal

d.Sales Journal

e.Cash Payments journal

f.General Journal

g.Cash Receipts Journal

Explanation:

To identify the RECORDING ERROR and indicate the JOURNAL THAT SHOULD HAVE BEEN USED

a. Based on the information given if Henry Associates paid the amount of $490 on account for an earlier purchase of MERCHANDISE INVENTORY the RECORDING ERRORS was PURCHASES JOURNAL instead of using CASH PAYMENTS JOURNAL as the correct journal.

b. Based on the information given Recorded depreciation expense for the month RECORDING ERRORS was CASH PAYMENTS JOURNAL instead of using GENERAL JOURNAL as the correct journal.

c. Based on the information given Collected Interest revenue RECORDING ERRORS was

CASH RECEIPTS JOURNALinstead of using

CASH RECEIPTS JOURNAL as the correct journal

d. Based on the information given, Sold Merchandise inventory on account RECORDING ERRORS wasCASH RECEIPTS JOURNALinstead of using SALES JOURNAL as the correct journal

e. Based on the information given, Issued Check No. 535 for the purchase of merchandise inventory RECORDING ERRORS was

PURCHASES JOURNAL instead of using

CASH PAYMENTS JOURNAL as the correct journal

f. Based on the information given, Returned damaged inventory that was purchase on account RECORDING ERRORS was

PURCHASES JOURNAL instead of using

GENERAL JOURNAL as the correct journal

g. Based on the information given, Sold merchandise inventory for cash RECORDING ERRORS was SALES JOURNAL instead of using CASH RECEIPTS JOURNAL as the correct journal.

agriculture and oil. natural resources, industry.

you can put this in your 11 sentence summary

" most of the money would be invested in innovation, economic convergence."