Deal Corporation sells a product for $500 on account to Liza Masters.This transaction will be recorded in the ________.

Question

Quizplus · Accepted Answer

The sales journal is used to record sales made on account by the company. The sale made to Liza Masters was on account, so it should be recorded in the sales journal. The cash payments journal is used to record payments made by the company, not sales made to customers. The cash receipts journal is used to record cash received from customers, not sales made on account. The purchase journal is used to record purchases made by the company, not sales made to customers.

Deal Corporation Sells a Product for $500 on Account to Liza