A company uses a Sales Journal, a Purchases Journal, a Cash Receipts Journal, a Cash Disbursements Journal, and a General Journal. A sales return for credit on account would be recorded in the
A) Sales Journal
B) General Journal
C) Cash Receipts Journal
D) Accounts Receivable Ledger
E) Cash Disbursements Journal

Question

Quizplus · Accepted Answer

A sales return for credit on account would be recorded in the General Journal because it does not fit the specific criteria for transactions recorded in the Sales, Purchases, Cash Receipts, or Cash Disbursements Journals. The General Journal is used for adjusting entries, closing entries, and any other transactions that do not fit in the specialized journals.

A Company Uses a Sales Journal, a Purchases Journal, a Cash