A company sells merchandise on credit for $6,000.The merchandise cost is $3,400.The journal that the transaction would be recorded in is the:
A)Cash disbursements journal.
B)Sales journal.
C)Cash receipts journal.
D)Purchases journal.
E)General journal.

Question

Quizplus · Accepted Answer

The given transaction involves the sale of merchandise on credit, which means that the company would record it in their sales journal. The purpose of a sales journal is to record credit sales, which are sales made on credit to customers. The sales journal typically includes columns for the date of the sale, the customer's name, the amount of the sale, and the accounts involved (such as accounts receivable and sales revenue). Therefore, we can conclude that the correct journal for recording this transaction is the sales journal.

A Company Sells Merchandise on Credit for $6,000