Special Journals

This transaction would be recorded in a sales journal

• Sale of equipment for cash

• Sale of equipment in exchange for a note

• Sale of merchandise for Cash

• Sale of merchandise on account

If a firm uses special journals, in which journal would the sale of merchandise for cash be recorded?

• Cash Disbursements Journal

• Cash Receipts Journal

• General Journal

• Sales Journal

When merchandise is returned or a price adjustment is granted an entry is made in the

• adjustments journal

• cash receipts journal

• general journal

• purchases journal

The voucher register is a substitute for Sales Journal

• True

• False

The total of the other accounts column of the cash receipts journal is not posted to the general ledger.

• True

• False

List Price - Invoice Price = _______

• Cash Discount

• Purchases Discounts

• Sales Discounts

• Trade Discount

The cash receipts journal is a record of all cash receipts from sales only.

• True

• False

Cash refund to a customer would be recorded in

• Sales Journal

• Cash Receipts Journal

• Cash Disbursements Journal

• Purchases Journal

• General Journal

Payment of salaries would be recorded in

• Sales Journal

• Cash Receipts Journal

• Cash Disbursements Journal

• Purchases Journal

• General Journal

Note payable sent to a creditor in settlement of an account.

• Sales Journal

• Cash Receipts Journal

• Cash Disbursements Journal

• Purchases Journal

• General Journal