Special journals are created, or established, to record specific types of transactions.Which of the following is not one of the special journals?
A)Fixed Asset Journal
B)Cash Receipts Journal
C)Purchases Journal
D)Payroll Journal

Question

Quizplus · Accepted Answer

While there are special journals for recording cash receipts, purchases, and payroll transactions, there is no such thing as a fixed asset journal. Instead, fixed asset transactions are typically recorded in a general journal or a separate fixed asset ledger.

Special Journals Are Created, or Established, to Record Specific Types