Fantasia 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:

Name: Fantasia 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:
Brand: Quizplus
Rating: 4.9 (47 reviews)

Question

Quizplus · Accepted Answer

The cash receipts journal is used to record all transactions where the business receives cash, including tax refunds.

Fantasia Enterprises Received a Tax Refund Cheque in the Mail