If a company purchases $15,200 of merchandise on credit, which journal will the transaction be recorded in?
A) Purchases journal.
B) General journal.
C) Cash disbursements journal.
D) Cash receipts journal.
E) Sales journal.

Question

Quizplus · Accepted Answer

The transaction involves purchasing merchandise on credit, which is recorded in the Purchases journal. The Purchases journal is used to record all credit purchases of inventory or merchandise.

If a Company Purchases $15,200 of Merchandise on Credit, Which