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

Question

Quizplus · Accepted Answer

The sale of merchandise for cash is recorded in the cash receipts journal, which is a special journal used to record all cash receipts. The sales journal is used to record credit sales, while the cash payments journal is used to record all cash payments, and the purchases journal is used to record credit purchases.

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