Question 1

1.1 You run a business called Company A, and sell an item to your customer (Company B) on credit. Where would you enter the transaction in your books?

Select one:

a. Cash receipts journal

b. General journal

c. Sales journal

d. Purchases journal

1.2 If a transaction has been posted to the debtors or creditors account via the journals, posting it to the individual debtors or creditors account as well would mean that double counting has occurred.

Select one:

a. True

b. False