Multiple Choice
A company sells merchandise on credit for $6,000. The merchandise cost is $3,400. The journal that the transaction would be recorded in is the:
A) Cash disbursements journal.
B) Sales journal.
C) Purchases journal.
D) Cash receipts journal.
E) General journal.
Correct Answer:
Verified
Correct Answer:
Verified
Q162: The sales journals of companies using the
Q163: Subsidiary ledgers are not needed in perpetual
Q164: The purchases journal is typically used to
Q165: A sales journal is used to record
Q166: A company borrowed $80,000 from a bank
Q168: Which of the following journals would a
Q169: A special journal is used to record
Q170: Which of the following accounting principles prescribes
Q171: The process of adding the Debit column
Q172: Examples of other subsidiary ledgers besides those