Which of the following is true of an accounts receivable subsidiary ledger?

A) It does not include a receivable account for each customer, but includes a cumulative account for all customers.

B) It contains information about the amount each customer purchased on credit, but excludes the customer name.

C) The total of the accounts in the accounts receivable subsidiary ledger must equal the accounts receivable balance in the general ledger.

D) Companies keep an accounts payable subsidiary ledger that is entirely different than the accounts receivable subsidiary ledger.

Which of the following is true of a sales journal?

A) It is a special journal used to record all the cash sales.

B) It is used to record the sales of capital assets, such as buildings.

C) It is a special journal used to record credit sales.

D) It is a general journal that is used to record the adjustments in revenue account.

The sale of merchandise inventory for cash is recorded in the:

A) general journal.

B) cash receipts journal.

C) sales journal.

D) accounts receivable journal.

The purchases journal is a special journal used to record:

A) cash receipts, interest rate payments, and purchases.

B) credit sales of assets that occur infrequently such as buildings, property, and equipment.

C) credit sales.

D) merchandise inventory, office supplies, and other assets purchased on account.

Cash purchases are generally recorded in the:

A) sales journal.

B) cash receipts journal.

C) cash payments journal.

D) purchases journal.

A cash payments journal is a special journal used to record:

A) only the cash payments by currency.

B) the net of the cash payments and cash receipts by currency.

C) cash payments by check and currency.

D) the net of cash payments and cash receipts by check and currency.

Cash disbursement journals are also known as:

A) sales journals.

B) purchases journals.

C) cash receipt journals.

D) cash payments journals.