Question
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
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Auditing And Assurance Services
Authors: Robert Ramsay, Timothy J Louwers
4th Edition
007739657X, 978-0077396572
