Purchases of merchandise on credit should be recorded in:
A)the sales journal.
B)the purchases journal.
C)the cash payments journal.
D)the general journal.

Question

Quizplus · Accepted Answer

Purchases of merchandise on credit would be recorded in the purchases journal, as it is a record of credit purchases made by the company. The sales journal is used for recording sales made to customers, the cash payments journal is used for recording payments made by the company, and the general journal is used for any other transactions not recorded in specialized journals.

Purchases of Merchandise on Credit Should Be Recorded In