Which of the following is not typically shown as a separate column in a cash receipts journal that uses the perpetual inventory system?
A)Interest Revenue CR column
B)Cost of Goods Sold DR,Merchandise Inventory CR column
C)Sales Revenue CR column
D)Other Accounts CR column

Question

Quizplus · Accepted Answer

Interest revenue is not related to the sales transactions and inventory of the company and therefore would not be shown as a separate column in a cash receipts journal that uses the perpetual inventory system. The other columns (Cost of Goods Sold, Merchandise Inventory, Sales Revenue, and Other Accounts) are all related to the inventory and sales transactions and would typically be shown in a cash receipts journal that uses the perpetual inventory system.

Which of the Following Is Not Typically Shown as a Separate