Closing entries are recorded in the a. sales journal. b. cash payments journal. c. general journal. d. purchases journal. 7. A subsidiary ledger may be established for a. Equipment. b. Accounts Payable. o. Notes Receivable. d. Equipment, Accounts Payable, and Notes Receivable. T Accounts Receivable would appear as a credit column in the a., cash receipts journal. b. sales journal. c. purchases journal. d. cash payments journal. , Sales Discounts would appear as a debit column in the , a. general journal. b. cash payments journal. o. sales jourmal