The journal entry to record the receipt of a time draft for an international sale would be recorded in a
A) cash payments journal.
B) cash receipts journal.
C) general journal.
D) purchases journal.

Question

Quizplus · Accepted Answer

The general journal is used to record transactions that do not fit into any of the other journals. In this case, the receipt of a time draft for an international sale is a non-routine transaction that would be recorded in the general journal.

The Journal Entry to Record the Receipt of a Time