Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You just posted a credit to Accounts Receivable. Which special journal did it come from? cash receipts journal sales journal purchases journal cash disbursements journal

You just posted a credit to Accounts Receivable. Which special journal did it come from?

cash receipts journal

sales journal

purchases journal

cash disbursements journal

2.

You returned damaged goods you had previously purchased from C.C. Rogers Inc. and received a credit memo for $250. Which journal would your company use to record this transaction?

Group of answer choices

general journal

sales journal

purchases journal

cash disbursements journal

3.

The sum of all the accounts in the accounts receivable subsidiary ledger should ________.

Group of answer choices

equal the accounts receivable account balance in the general ledger after posting all amounts

equal the accounts receivable account balance in the general ledger before posting any amounts

equal the accounts payable account balance in the general ledger before posting any amounts

equal the cash account balance in the general ledger after posting all amounts

4.

You just posted a debit to ABC Co. in the accounts receivable subsidiary ledger. Which special journal did it come from?

Group of answer choices

sales journal

cash receipts journal

purchases journal

cash disbursements journal

5.

A customer just charged $150 of merchandise using MasterCard. Which special journal would the company use to record this transaction?

Group of answer choices

cash receipts journal

sales journal

purchases journal

cash disbursements journal

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Auditing And Assurance Services An Integrated Approach

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Al Arens

1st Edition

0130463035, 9780130463036

More Books

Students also viewed these Accounting questions

Question

7 How can a culture encourage ethical (or unethical) behaviour?

Answered: 1 week ago