ACC1019

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A transaction in which goods and services are provided now and paid later is a ....

• cash transaction

• credit transaction

• illegal transaction

• theft

The Creditors Journal is also known as the Creditors list

• True

• False

The source document for a credit transaction is ...

• a receipt

• a cheque

• a memorandum

• an invoice

Credit purchases made by a debtor are recorded in the... of your business.

• Cash receipts journal.

• Cash payments journal.

• Debtors journal.

• Creditors journal.

Which of the following options do not relate to creditors

• Cash Receipts Journal

• Creditors Journal

• Creditors Allowances Journal

• Cash Payments Journal