Which is false concerning use of special journals? Select one: a. Purchase of any items on account are recorded in the purchases journal. Acquisitions of any items for cash are recorded in the cash disbursements journal. b. Transactions that cannot be appropriately recorded in a special journal are recorded in the general journal. c. Only cash purchases are recorded in the cash disbursements journal. d. Only sales of merchandise on account are recorded in the sales journal. Cash sales are recorded in the cash receipts journal.
Which is false concerning use of special journals? Select one: a. Purchase of any items on account are recorded in the purchases journal. Acquisitions of any items for cash are recorded in the cash disbursements journal. b. Transactions that cannot be appropriately recorded in a special journal are recorded in the general journal. c. Only cash purchases are recorded in the cash disbursements journal. d. Only sales of merchandise on account are recorded in the sales journal. Cash sales are recorded in the cash receipts journal.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which is false concerning use of special journals?
Select one:
a. Purchase of any items on account are recorded in the purchases journal. Acquisitions of any items for cash are recorded in the cash disbursements journal.
b. Transactions that cannot be appropriately recorded in a special journal are recorded in the general journal.
c. Only cash purchases are recorded in the cash disbursements journal.
d. Only sales of merchandise on account are recorded in the sales journal. Cash sales are recorded in the cash receipts journal.
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