This refers to things of value, owned by the business.

• Asset

• Capital

• Equity

• Liability

A special journal used for recording purchase of merchandise.

• Cash payment journal

• General journal

• Purchase journal

• Sales journal

This journal is intended for recording receipts.

• Cash payment journal

• Cash receipt journal

• General journal

• Sales journal

This is used for recording transactions such as return of goods to the seller due to defective goods.

• Cash payment journal

• Purchase journal

• Purchase return journal

• Sales return journal

This type of journal where the bookkeeper records transactions relating to payment by

cash

• Cash payment journal

• Cash receipt journal

• General journal

• Sales journal

This is used for recording transactions relating to the return of goods by the buyer

due to defective goods.

• Cash payment journal

• Purchase journal

• Purchase return journal

• Sales return journal

Refers to the process of recording to the journal.

• Accounting

• Journalizing

• Keeping

• Writing

The type of account of Capital.

• Asset

• Equity

• Liability

• Revenue

This is the first step in journalizing.

• Enter the date.

• Write the credit account.

• Write the debit account

• Write the explanation

This item is NOT written in the Particular column.

• Credit account

• Debit account

• Debit amount

• Explanation