Which of the following is incorrect concerning the posting of the cash receipts journal? (a) The total
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Which of the following is incorrect concerning the posting of the cash receipts journal?
(a) The total of the ‘Other accounts’ column is not posted.
(b) All column totals except the total for the ‘Other accounts’ column are posted once at the end of the month to the account name(s) specified in the column heading.
(c) The totals of all columns are posted daily to the accounts specified in the column heading.
(d) The individual amounts in a column posted in total to a control account are posted daily to the subsidiary ledger account specified in the ‘Account credited’ column.
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Related Book For
Accounting Principles
ISBN: 9780471980193
8th Edition
Authors: Jerry J Weygandt, Donald E Kieso, Paul D Kimmel
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