Clooney Enterprises received a tax refund cheque in the mail and immediately deposited it in the bank. Assuming the use of special journals, this entry would be recorded in the:

Question

Quizplus · Accepted Answer

The correct journal for recording the receipt of a tax refund cheque, which is a form of cash inflow, is the cash receipts journal. This journal is specifically used for recording all cash inflows or receipts, including those from sources other than sales.

Clooney Enterprises Received a Tax Refund Cheque in the Mail