A credit of $550 000, including 10% GST, was posted to the accounts payable control account on the last day of the month. This posting would most likely have come from which special journal?
A) Purchases journal
B) Sales journal
C) Cash receipts journal
D) Cash payments journal

Question

Quizplus · Accepted Answer

The Purchases journal is where all credit purchases are recorded. Since the credit posted includes GST, it is likely that it relates to a purchase transaction.

A Credit of $550 000, Including 10% GST, Was Posted