The special journal that is used to record all transactions when cash decreases.

Question

Quizplus · Accepted Answer

The cash payments journal is used to record all transactions when cash decreases, such as payments for expenses or purchases. The cash receipts journal, on the other hand, is used to record all transactions when cash increases, such as from sales or collections from customers. The purchase journal is used to record all credit purchases made by a business. The general journal is a book of original entry where all types of transactions may be recorded.

The Special Journal That Is Used to Record All Transactions