Which one of the following general statements is correct -
A) a sales discount is recorded as a negative amount in the receipts journal
B) a sale return is recorded as a negative amount in the sales journal
C) cash sales are recorded as other receipts in the receipts journal
D) a and b above are correct
Correct Answer:
Verified
Q14: Transactions entered in the sales journal will
Q15: The receipts journal may be used for
Q16: Transactions entered in the receipts journal will
Q17: To record a NSF cheque, you can
Q18: To enter a NSF cheque -
A) reverse
Q20: The sales journal may be used for
Q21: Discounts for early payments are offered to
Q22: To record a NSF cheque from a
Q23: The default customer early payment and discount
Q24: Using the Continue option for new customers
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