Multiple Choice
The one characteristic that all entries recorded in a cash payments journal have in common is
A) that they all represent purchases of merchandise.
B) a credit to the cash account.
C) that they are all posted to the accounts payable subsidiary ledger.
D) a debit to the accounts payable or purchases accounts.
Correct Answer:
Verified
Correct Answer:
Verified
Q137: An advantage of using a subsidiary ledger
Q138: Transactions that cannot be entered in a
Q139: A company would not likely use subsidiary
Q140: Postings from the purchases journal to the
Q141: If a transaction cannot be recorded in
Q143: On December 1 the accounts receivable control
Q144: The cash payments journal only has one
Q145: Poole Company maintains four special journals and
Q146: The accounts payable subsidiary ledger provides detailed
Q147: To be useful the information outputs of