Tangent Corporation makes a $1,200 purchase of merchandise inventory for cash. This transaction will be recorded in the:
A)cash payments journal.
B)general journal.
C)cash receipts journal.
D)purchase journal.

Question

Quizplus · Accepted Answer

The cash payments journal is used to record all transactions involving cash outflows, such as cash purchases of inventory.

Tangent Corporation Makes a $1,200 Purchase of Merchandise Inventory for Cash