Which of the following is NOT an advantage of the Cash Payment Journal?
A) Transactions are recorded on one line.
B) Transactions involving credits to cash are recorded in one place.
C) Special columns are not used in this journal.
D) The Cash credit side can be posted as one total.
Correct Answer:
Verified
Q51: This journal contains all of the transactions
Q52: The special journal that is used to
Q53: A period of time that the buyer
Q54: A sizable reduction from the list price
Q55: An "X" below the total amount of
Q57: A written promise to pay a specified
Q58: Which of the following statements are true?
A)
Q59: Which of the following is not an
Q60: Sales of merchandise on account would be
Q61: Collection of a sale on account is
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