In a firm that uses special journals,a sale of merchandise on credit is recorded in the
A) cash payments journal.
B) cash receipts journal.
C) sales journal.
D) purchases journal.

Question

Quizplus · Accepted Answer

A sale of merchandise on credit is a common transaction that is recorded in the sales journal, which is specifically designed for recording sales transactions. The cash payments journal is used for recording cash payments made by the company, while the cash receipts journal is used for recording cash received. The purchases journal is used for recording purchases of merchandise on credit.

In a Firm That Uses Special Journals,a Sale of Merchandise