Both the sales journal and the cash receipts journal require daily posting to the accounts receivable subsidiary ledger and the accounts receivable control account.

Question

Quizplus · Accepted Answer

The sales journal entries typically require posting to the accounts receivable subsidiary ledger and the accounts receivable control account periodically, but the cash receipts journal, which records actual cash received including payments on account, requires daily or more frequent posting to ensure accurate tracking of cash flows and customer account balances.

Both the Sales Journal and the Cash Receipts Journal Require