Sales and sales returns can affect which journals?
A)Accounts receivable, accounts payable, inventory, and sales
B)Accounts receivable, cash, inventory, and sales
C)Accounts receivable, accounts payable, purchases, and inventory
D)Sales, cash receipts, cash disbursements, inventory, and purchases

Question

Quizplus · Accepted Answer

Sales and sales returns would affect the Accounts receivable and Sales journals. In addition, cash received or refunded from sales returns would affect the Cash journal, while any changes to inventory levels would affect the Inventory journal. Accounts payable and purchases are not directly impacted by sales and sales returns.

Sales and Sales Returns Can Affect Which Journals