Which of the following economic events would not be recorded in the cash receipts journal?
A) Cash sales of merchandise
B) Collections of accounts receivable
C) Cash from sale of land
D) Cash purchases of merchandise

Question

Quizplus · Accepted Answer

The cash receipts journal is used to record all cash receipts from sources such as cash sales of merchandise and collections of accounts receivable. However, cash purchases of merchandise would be recorded in the cash disbursements journal. Therefore, option D would not be recorded in the cash receipts journal.

Which of the Following Economic Events Would Not Be Recorded