Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ignore GST. An entity uses both general and special journals. At the end of the month, the total balance of the Other accounts column in

Ignore GST. An entity uses both general and special journals.

At the end of the month, the total balance of the "Other accounts" column in Cash Receipts Journal is $23,000.

How will this column be posted?

A) The individual items will be posted to their respective accounts. B) The total will be posted to the Cash account as a credit. C) The total will be posted to the Cash account as a debit. D) The individual items will be posted to General Journal.

please provide correct answer and explanation

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions