Select the correct statement from the following:
A) The accounts payable journal will not show detail of purchases from a vendor.
B) Details of amounts owed by a customer in are the accounts payable journal.
C) The sales journal contains all sales information.
D) Details of amounts owed to a vendor are contained in the purchases journal.
Correct Answer:
Verified
Q45: Sales and sales returns can affect which
Q46: When a transaction occurs in a business,
Q47: The sales journal would have columns for
Q48: As computerized accounting systems get more and
Q49: Posting to the general ledger occurs:
A)As the
Q51: Today's automated accounting process:
A)Is built on a
Q52: In the case of a manual accounting
Q53: Special journals are:
A)Utilized for infrequent special journal
Q54: Subsidiary ledgers:
A)Would not contain the detailed information
Q55: Closing entries:
A)Close all of the general ledger
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