Every transaction recorded in the cash receipt journal includes a:
A)credit to cash.
B)debit to accounts receivable.
C)credit to accounts receivable.
D)debit to cash.

Question

Quizplus · Accepted Answer

Every transaction recorded in the cash receipt journal includes a debit to cash, because it is the account receiving the funds. Other accounts may also be credited depending on the transaction, such as accounts receivable if a customer is paying off a balance. However, the one constant is the debit to cash.

Every Transaction Recorded in the Cash Receipt Journal Includes A