Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

bh Which of the following is TRUE of posting from a sales journal to the general ledger? Entries in the sales journal are posted to

bh
image text in transcribed
Which of the following is TRUE of posting from a sales journal to the general ledger? Entries in the sales journal are posted to either the accounts receivable subsidiary ledger or the general ledger. Individual accounts receivable are posted daily from the sales journal to the accounts receivable subsidiary ledger. O Even though the sales journal is posted monthly to the subsidiary ledger, it is a reliable record of the amount received from each customer. Under a perpetual inventory system, the sales journal will not have the Cost of Goods Sold DR and Merchandise Inventory CR column

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

the third will have one between- and one within-participants IV

Answered: 1 week ago