If a company purchases $15,200 of merchandise on credit,which journal will the transaction be recorded in?
A)Cash disbursements journal.
B)Sales journal.
C)Cash receipts journal.
D)Purchases journal.
E)General journal.

Question

Quizplus · Accepted Answer

The transaction of purchasing merchandise on credit is a typical transaction that is recorded in the purchases journal. Purchases journal is used to record all the credit purchases made by the company. Hence, Option D is the correct choice in this case.

If a Company Purchases $15,200 of Merchandise on Credit,which Journal