COLLEGE ACCOUNTING W/ ACCESS >BI<

13th Edition

ISBN: 9780357531822

Author: Scott

Publisher: CENGAGE L

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Textbook Question

Chapter 10, Problem 4QY

Which of the following is not an advantage of the cash receipts journal?

a. Transactions do not have to be posted on a regular basis.
b. Transactions can be recorded on one line.
c. Transactions involving debits to Cash are recorded in one place.
d. Repetition in posting is eliminated.
e. Special columns can be used for similar transactions.

Expert Solution & Answer

Chapter 10 Solutions

COLLEGE ACCOUNTING W/ ACCESS >BI<

Ch. 10 - What do credit terms of 2/10, n/30 mean? 210 days...Ch. 10 - What is the entry to record the cash received on a...Ch. 10 - Prob. 3QY Ch. 10 - Which of the following is not an advantage of the...Ch. 10 - Prob. 5QY Ch. 10 - What is the normal balance for each of the...Ch. 10 - What does an X under the total of a special...Ch. 10 - Prob. 3DQ Ch. 10 - In a cash receipts journal, both the Accounts...Ch. 10 - If a cash payments journal is supposed to save...

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