A cash payments journal is a special journal used to record all of the following EXCEPT

Question

Quizplus · Accepted Answer

A cash payments journal is used to record all cash transactions related to payments, including cash purchases, cash withdrawals, and payments made by check. However, an asset accepted as payment by a supplier is not a cash transaction and would not be recorded in a cash payments journal. It would instead be recorded in a purchases journal or a general journal, depending on the specific transaction.

A Cash Payments Journal Is a Special Journal Used to Record