20 A credit to the account Cash-MDS Regular will most likely be recorded in what journal? Group of answer choices Check Disbursements Journal Special Journal Cash Disbursements Journal General Journal

20 A credit to the account Cash-MDS Regular will most likely be recorded in what journal? Group of answer choices Check Disbursements Journal Special Journal Cash Disbursements Journal General Journal

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

Question

A credit to the account Cash-MDS Regular will most likely be recorded in what journal?

Group of answer choices

Check Disbursements Journal

Special Journal

Cash Disbursements Journal

General Journal

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Accounting for Cash and cash equivalents

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