Which of the following is not a true statement about the daily posting of the sales journal? The invoice number supporting the sales transaction is posted to the reference column in the subsidiary ledger. There is no credit posting. There is a debit posting to accounts in the accounts receivable subsidiary ledger. The reference column in the sales journal is checked when the posting is complete for each entry in the journal.
Which of the following is not a true statement about the daily posting of the sales journal? The invoice number supporting the sales transaction is posted to the reference column in the subsidiary ledger. There is no credit posting. There is a debit posting to accounts in the accounts receivable subsidiary ledger. The reference column in the sales journal is checked when the posting is complete for each entry in the journal.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Which of the following is not a true statement about the daily posting of the sales journal?
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The invoice number supporting the sales transaction is posted to the reference column in the subsidiary ledger. |
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There is no credit posting. |
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There is a debit posting to accounts in the |
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The reference column in the sales journal is checked when the posting is complete for each entry in the journal. |
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