What purpose does the sundries column serve in the cash receipts journal and cash payments journal?

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In traditional accounting practices a sundries column is sometimes included in cash receipts journals and cash payments journals These journals are used to record various financial transactions within a business The Sundries column serves as a catchall category for transactions that dont fit neatly into other predefined columns in the journal Its used when there are miscellaneous or infrequent transactions that dont have a specific column dedicated to them This could include transactions like bank charges foreign exchange adjustments adjustments for errors or any other transaction that doesnt have a specialized column In the cash receipts journal ...View the full answer

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