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Questions and Answers
What information is typically recorded in a sales journal?
What information is typically recorded in a sales journal?
- Customer's name and debit account (correct)
- Supplier's name and credit account
- Employee's name and cash account
- Manager's name and asset account
What is the debit account in a sales journal?
What is the debit account in a sales journal?
- Sales
- Accounts Receivable (correct)
- Purchases
- Accounts Payable
What is the credit account in a sales journal?
What is the credit account in a sales journal?
- Purchases
- Sales (correct)
- Accounts Receivable
- Asset
What is recorded in a purchase journal?
What is recorded in a purchase journal?
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What information is typically recorded in a purchase journal?
What information is typically recorded in a purchase journal?
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What is the debit account in a purchase journal?
What is the debit account in a purchase journal?
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What is the purpose of a sales journal?
What is the purpose of a sales journal?
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What is the purpose of a purchase journal?
What is the purpose of a purchase journal?
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In a sales journal, what is the result of a sale on account?
In a sales journal, what is the result of a sale on account?
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In a purchase journal, what is the result of a purchase on account?
In a purchase journal, what is the result of a purchase on account?
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What is the relationship between a sales journal and Accounts Receivable?
What is the relationship between a sales journal and Accounts Receivable?
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