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.

Question

Quizplus · Accepted Answer

In a cash receipts journal, cash sales are recorded with entries in the Sales Revenue CR column to reflect the revenue generated from cash sales.

Which of the Following Is True of a Cash Receipts