LO 7.3 You just posted a credit to Accounts Receivable. Which special journal did it come from?Choose one answer from the options below.A. sales journalB. cash receipts journalC. purchases journalD. cash disbursements journalE. general journalBackNext
Question
LO 7.3 You just posted a credit to Accounts Receivable. Which special journal did it come from?Choose one answer from the options below.A. sales journalB. cash receipts journalC. purchases journalD. cash disbursements journalE. general journalBackNext
Solution
The credit to Accounts Receivable likely came from the Cash Receipts Journal (Option B). This journal is used to record all cash that is received by a business, which often includes payments from customers on their Accounts Receivable.
Similar Questions
LO 7.3 Sold goods for $650, credit terms net 30 days. Which journal would the company use to record this transaction?Choose one answer from the options below.A. sales journalB. purchases journalC. cash receipts journalD. cash disbursements journalE. general journal
LO 7.2 An unhappy customer just returned $50 of the items he purchased yesterday when he charged the goods to the company’s store credit card. Which special journal would the company use to record this transaction?Choose one answer from the options below.A. sales journalB. purchases journalC. cash receipts journalD. cash disbursements journalE. general journal
Credit memo or credit note is entered in which of the following journal? A. General journal B. Cash journal C. Purchase journal D. Sales return day book
LO 7.3 You returned damaged goods to C.C. Rogers Inc. and received a credit memo for $250. Which journal(s) would the company use to record this transaction?Choose one answer from the options below.A. sales journal onlyB. purchases journal and the accounts payable subsidiary ledgerC. cash receipts journal and the accounts receivable subsidiary ledger D. cash disbursements journal and the accounts payable subsidiary ledgerE. general journal and the accounts payable subsidiary ledger
Credit purchase of plant and machinery is recorded in which of the following specialized journals? A. General journal B. Cash journal C. Purchase journal D. Purchase return journal
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.