In which journal is the receipt of a promissory note from a customer on account recorded?
A) Revenue journal
B) Cash Receipts journal
C) General journal
D) Purchases journal

Question

Quizplus · Accepted Answer

The receipt of a promissory note from a customer on account is recorded in the General journal because it involves a non-cash transaction that doesn't fit into the specialized journals like the Revenue, Cash Receipts, or Purchases journals.

In Which Journal Is the Receipt of a Promissory Note