SPECIAL JOURNALS AND SUBSIDIARY LEDGERS

This type of journal can be used to record any business transactions

• Simple Journal

• Special Journal

This type of journal is used for numerous transactions and , results to division of labor.

• special journals

• simple journals

The bookkeeper is assigned to monitor the sales transaction of the business. He/ she should use:

• Sales Journal

• Purchase Journal

The bookkeeper is assigned to the transactions like cash collections. She is using:

• Cash Receipts Journal

• Cash Disbursement Journal

The bookkeeper is assigned to record payments of accounts or payments of expenses. She uses:

• Cash Receipt Journal

• Cash Disbursement Journal

Use of simple journal would mean additional expenses to the employer since only one bookkeeper is needed to perform the task.

• True

• False

Assignment of specific duties regarding recording of business transactions can be done through the use of simple journals.

• True

• False

An advantage of using special journal is that time and effort can be saved.

• True

• False

Through the use of special journal, transaction of similar nature can be recorded in the same book.

• True

• False

In the cash payment journal, any cash amount credited is recorded in the Cash Credit column plus the discount if any.

• True

• False

Answer explanation

In the cash payment journal, cash credit columns contain the amount paid less the discount if there is any.