Which of the following journals would a company use to record cash collections from customers, net of discounts taken?
A) Cash receipts journal.
B) General journal.
C) Cash disbursements journal.
D) Sales journal.
E) Purchases journal.

Question

Quizplus · Accepted Answer

The cash receipts journal is used for recording all cash received by a company, including cash collections from customers. It allows for easy tracking of cash received and any discounts taken, while also simplifying the recording process.

Which of the Following Journals Would a Company Use to Record