If there is cash involved in a business transaction, the transaction should be recorded in either...
If there is cash involved in a business transaction, the transaction should be recorded in either the ________. A. sales journal or purchases journal B. cash payments journal or cash receipts journal C. cash payments journal or cash receipts journal and in general journal D. cash payments journal or general journal
Homework Answers
Answer
B. Cash payments journal and cash receipts journal
If there is cash invloved in any business transaction then there will be transaction in either cash payments or cash receipts journal because it will debit or credit the cash account and thus effect the cash balances.
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If there is cash involved in a business transaction, the
transaction should be recorded in either...
if cash is involved in a business transaction the transaction should be recorded in either the_______?
if cash is involved in a business transaction the transaction should be recorded in either the_______?
Indicate the journal in which each of the following transactions should be recorded. Assume a three-column purchases jou...
Indicate the journal in which each of the following transactions should be recorded. Assume a three-column purchases journal. Paid a creditor on account. Cash Payments Bought merchandise on account. Sales Sold merchandise for cash. Cash Receipts Adjusted for insurance expired. General Journal Received payment on account from a charge customer. Cash Receipts Received a credit memo for merchandise returned. General Journal Bought equipment on credit. General Journal Sold merchandise on account. Cash Receipts Recorded a customer's NSF check. General Journal...
Sale journal general journal purchase journal cash payment journal cash receipt journal Wilcox Electronics uses a...
Sale journal
general journal
purchase journal
cash payment journal
cash receipt journal
Wilcox Electronics uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Identify the journal in which each transaction should be recorded. Transaction Journal a. Borrowed cash from the bank b. Purchased shop supplies on credit c. Purchased merchandise for cash d. Sold a building (nonmerchandise) on credit Sold merchandise on credit f. Sold merchandise for cash g. Paid cash for office supplies...
21. Which of the following is not a special journal? A) Sales journal B) Purchases journal...
21. Which of the following is not a special journal? A) Sales journal B) Purchases journal C) General journal D) Cash receipts journal 22. All of the column totals in the cash receipts journal are posted to general ledger accounts except the A) Accounts Receivable column total. B) Cash column total. C) Sales column total. D) Other Accounts column total. 23. The entries in a sales journal will show A) all sales of merchandise. B) the cash sales of the...
Multiple Choice Question 66 A company uses a sales journal, cash receipts journal, purchases journal, cash...
Multiple Choice Question 66 A company uses a sales journal, cash receipts journal, purchases journal, cash payments journal, and a general journal. A cash sales return would be recorded in the general journal. O sales journal. O cash receipts journal. O cash payments journal. -
Sesion Timeout du/courses/36916/assignments/321836?module_item_id-365246 Below are some typical transactions incurred by Ricketts Company For each transaction, indicate...
Sesion Timeout du/courses/36916/assignments/321836?module_item_id-365246 Below are some typical transactions incurred by Ricketts Company For each transaction, indicate whether it would normally be recorded in a cash receipts Journal, cash payments journal, sales journal, si column purchases journal, or general Journal Journals Transactions 1. Payment of creditors on account. 2. Return of merchandise sold for credit 3. Collection on account from customers 4. Sale of land for cash. 5. Sale of merchandise on account. 6. Sale of merchandise for cash 7. Received...
3. Which of the following is recorded in the cash payments journal? a. adjusting entry for...
3. Which of the following is recorded in the cash payments journal? a. adjusting entry for accrued salaries b. receipt of cash on supplies returned c. receipt of cash from services rendered d. payment of employees' salaries 4. When posting the column totals of a cash payments journal, a debit should be posted to a. Cash b. Accounts Payable c. Sales Discounts d. Unearned Revenue 5. Generally, the revenue account for a merchandising business is entitled a. Sales b. Net...
Question 16 Which of the following is not a business transaction that would be recorded as...
Question 16 Which of the following is not a business transaction that would be recorded as a journal entry in the accounting records? pay for supplies sell goods for cash make a sales offer receive cash for services to be rendered later
MC Qu. 9-26 A sale of merchandise for cash would... 19 A sale of merchandise for cash would be recorded in: 2.5 p...
MC Qu. 9-26 A sale of merchandise for cash would... 19 A sale of merchandise for cash would be recorded in: 2.5 points Multiple Choice the cash receipts journal. the cash payments journal the sales journal the general Journal
25. The individual accounts with customers ar dividual accounts with customers are included in a subsidiary...
25. The individual accounts with customers ar dividual accounts with customers are included in a subsidiary ledger called the a. asset ledger b. accounts payable ledger c. expense ledger d. accounts receivable ledger 26. A purchase of supplies for cash is recorded in the a. Revenue journal b. Purchases journal C. Cash Receipts journal d. Cash Payments journal 27. A purchase of supplies on account is recorded in the a. Revenue journal b. General journal c. Purchases journal d. Cash...
Sale journal
general journal
purchase journal
cash payment journal
cash receipt journal
Wilcox Electronics uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Identify the journal in which each transaction should be recorded. Transaction Journal a. Borrowed cash from the bank b. Purchased shop supplies on credit c. Purchased merchandise for cash d. Sold a building (nonmerchandise) on credit Sold merchandise on credit f. Sold merchandise for cash g. Paid cash for office supplies...
21. Which of the following is not a special journal? A) Sales journal B) Purchases journal C) General journal D) Cash receipts journal 22. All of the column totals in the cash receipts journal are posted to general ledger accounts except the A) Accounts Receivable column total. B) Cash column total. C) Sales column total. D) Other Accounts column total. 23. The entries in a sales journal will show A) all sales of merchandise. B) the cash sales of the...
Multiple Choice Question 66 A company uses a sales journal, cash receipts journal, purchases journal, cash payments journal, and a general journal. A cash sales return would be recorded in the general journal. O sales journal. O cash receipts journal. O cash payments journal. -
Sesion Timeout du/courses/36916/assignments/321836?module_item_id-365246 Below are some typical transactions incurred by Ricketts Company For each transaction, indicate whether it would normally be recorded in a cash receipts Journal, cash payments journal, sales journal, si column purchases journal, or general Journal Journals Transactions 1. Payment of creditors on account. 2. Return of merchandise sold for credit 3. Collection on account from customers 4. Sale of land for cash. 5. Sale of merchandise on account. 6. Sale of merchandise for cash 7. Received...
3. Which of the following is recorded in the cash payments journal? a. adjusting entry for accrued salaries b. receipt of cash on supplies returned c. receipt of cash from services rendered d. payment of employees' salaries 4. When posting the column totals of a cash payments journal, a debit should be posted to a. Cash b. Accounts Payable c. Sales Discounts d. Unearned Revenue 5. Generally, the revenue account for a merchandising business is entitled a. Sales b. Net...
Question 16 Which of the following is not a business transaction that would be recorded as a journal entry in the accounting records? pay for supplies sell goods for cash make a sales offer receive cash for services to be rendered later
MC Qu. 9-26 A sale of merchandise for cash would... 19 A sale of merchandise for cash would be recorded in: 2.5 points Multiple Choice the cash receipts journal. the cash payments journal the sales journal the general Journal
25. The individual accounts with customers ar dividual accounts with customers are included in a subsidiary ledger called the a. asset ledger b. accounts payable ledger c. expense ledger d. accounts receivable ledger 26. A purchase of supplies for cash is recorded in the a. Revenue journal b. Purchases journal C. Cash Receipts journal d. Cash Payments journal 27. A purchase of supplies on account is recorded in the a. Revenue journal b. General journal c. Purchases journal d. Cash...
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