A journal entry is recorded at the time a sight draft is issued.

Name: A journal entry is recorded at the time a sight draft is issued.
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Question

Quizplus · Accepted Answer

A journal entry is recorded when the transaction occurs, not necessarily when a sight draft is issued. A sight draft is a demand for payment upon presentation, and the related financial transaction (e.g., sale of goods) would trigger the journal entry, not the issuance of the sight draft itself.

A Journal Entry Is Recorded at the Time a Sight