Which special journal is used to record merchandise or other items bought on account?
A) Sales journal
B) Cash Receipts journal
C) Purchases journal
D) Cash Payments journal

Question

Quizplus · Accepted Answer

The Purchases journal is used to record merchandise or other items bought on account, meaning the business has not yet paid for the goods. The Sales journal is used to record sales made on credit, while the Cash Receipts journal and Cash Payments journal are used to record cash transactions.

Which Special Journal Is Used to Record Merchandise or Other