PROFESSOR: NAME: SECTION: C 14 True or False TRUE, 15. a cash journal 16. TRUE TRUE 17 accounts is called the general ledger. TRUE , posted as a debit to accounts receivable and a credit to sales. Transactions involving the payment of cash for any purpose are usually record Special Journals are modified in practice to adapt to the specific needs of an entity The primary ledger that contains all of the balance sheet and income state At the end of each month, the total of the amount column of the sales journal 5. After postings have been completed for the month, if the sum of the balances in the accounts receivable subsidiary ledger does not agree with the balance of the accounts receivable account in the general ledger, the errors must be located and 6. Sales on account of office equipment used in the business would be recorded in the 7. Each amount in the other accounts column of the cash receipts journal must be 10. The total of the other accounts column of the cash receipts journal is not posted to corrected. sales journal. the general ledger. posted individually to the appropriate general ledger account. 8. When there are numerous accounts with a common characteristic, it is common place them in a separate ledger called a detail ledger. 9. The sale of merchandise for cash is recorded in the sales journal. 11. When special journals, control accounts and subsidiary ledgers are used, no posting to any ledger is performed until the end of the month. 12. For each transaction recorded in the purchases journal, the credit is entered in the accounts payable column. 13. Acquisitions on account which are not provided for in special debit columns are recorded in the other accounts column in the purchases journal. 14. Debits to creditors' accounts for invoices paid are recorded in the accounts payable debit column of the cash payments journal. 15. Comparing the purchase order with the receiving report will show that all the goods 16. The total of the accounts payable column in the cash payments journal is posted at Special and Combination Journals, and Voucher System 405 ordered actually arrived and that all goods that arrived were actually ordered. 1 the end of the month as a debit to accounts payable and a credit to cash. 17. When customers are allowed to return merchandise for credit to their accounts, these transactions are recorded in the general journal. 18. A check register is used to record all expenditures. 19. The voucher register is a substitute for a sales journal. 20. The voucher register takes the place of the cash payments journal. 1