Every transaction recorded in the cash receipts journal includes a ________.
A) credit to Cash
B) debit to Accounts Receivable
C) credit to Accounts Receivable
D) debit to Cash

Question

Quizplus · Accepted Answer

The cash receipts journal records all receipts of cash, so each transaction will involve a debit to Cash as the amount of cash received is increasing. The other accounts involved in the transaction (e.g. Accounts Receivable, Sales, Discounts, etc.) will depend on the nature of the transaction, but every transaction recorded in the cash receipts journal will involve a debit to Cash.

Every Transaction Recorded in the Cash Receipts Journal Includes a ________