A customer who had purchased $75,000 worth of merchandise on account returns 5% of this order to the seller because he is not satisfied with the quality of the goods.This transaction would be recorded in which journal if historically the seller has had very few returns of this nature?
A)Sales journal
B)Purchases journal
C)Cash disbursements journal
D)Cash receipts journal
E)General journal

Question

Quizplus · Accepted Answer

The general journal is used to record infrequent or non-routine transactions, such as returns, especially when they are not common for the seller.

A Customer Who Had Purchased $75,000 Worth of Merchandise on Account