Multiple Choice
In a firm that uses special journals, the return of damaged merchandise to a supplier and receipt of a credit memorandum is recorded in the:
A) cash receipts journal.
B) purchases journal.
C) general journal.
D) cash payments journal.
Correct Answer:
Verified
Correct Answer:
Verified
Q76: In a firm that uses special journals,
Q77: The Purchases Returns and Allowances account has
Q78: When an accounts payable ledger is used,
Q79: A creditor's account in the accounts payable
Q80: A supplier's billing document<br>A)Cost of goods sold<br>B)Freight
Q82: A firm's accounts payable ledger may include
Q83: Read the description of the following transactions
Q84: At the end of the accounting period
Q85: To record a return of merchandise purchased
Q86: The use of a purchases journal strengthens