Multiple Choice
Which of the following is true of a cash receipts journal?
A) In a cash receipts journal, cash sales are recorded in the Accounts Receivable CR column and the Cash DR column.
B) In a cash receipts journal, collections on account are recorded in the Accounts Receivable DR column and the Cash DR column.
C) It ignores the miscellaneous cash receipt transactions.
D) In a cash receipts journal, the sales for cash will have entries in the Sales Revenue CR column.
Correct Answer:
Verified
Correct Answer:
Verified
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