QUESTION 33 Which of the following is true of a purchases journal? A purchases journal is not used for a perpetual inventory system. Cash purchases are recorded in the purchases journal. O In a purchase journal, the Merchandise Inventory DR column would be replaced with a column titled Cost of Goods Sold DR for a periodic inventory system. O In a purchases journal, the Other Accounts DR columns are used for purchases on account of items other than merchandise inventory and QUESTION 34 Which of the following is true of a sales journal? It is a special journal used to record credit sales. It is a special journal used to record all the cash sales. O It is used to record the sales of capital assets, such as buildings It is a general journal that is used to record the adjustments in revenue account