Accounting Chapter 3 Review

Examples of source documents include ALL of the following: checks, sales invoices, memorandums, and letters.

• True

• False

The source document for all cash payments is a sales invoice.

• True

• False

A calculator tape is the source document for daily cash sales.

• True

• False

The source document used when supplies are bought on account is a memorandum.

• True

• False

The journal columns used to record receiving cash from sales are cash debit and sales credit.

• True

• False

A journal amount column headed with an account title is a special amount column.

• True

• False

Transactions are recorded in a journal in alphabetical order.

• True

• False

The source document for cash payment transactions is a receipt.

• True

• False

The year and the month are written only once on a journal page.

• True

• False

Double lines are ruled across a journal's amount columns to indicate that the totals have been verified as correct.

• True

• False