Gere Company returned defective supplies to a supplier and received a cash refund. Assuming the use of special journals, this entry would be recorded in the:
A)sales journal.
B)cash payments journal.
C)cash receipts journal.
D)general journal.

Question

Quizplus · Accepted Answer

Gere Company received a cash refund, which is a cash receipt. Cash receipts are recorded in the cash receipts journal.

Gere Company Returned Defective Supplies to a Supplier and Received