Asked by

ICONIC_ SALEHYT AMEER
on Nov 14, 2024

verifed

Verified

A company which uses special journals should record a transaction involving the purchase of merchandise for cash in a

A) one column purchases journal.
B) multi-column purchases journal.
C) cash payments journal.
D) general journal.

Special Journals

Accounting books or ledgers used for recording and categorizing specific types of transactions such as sales, purchases, cash disbursements, and cash receipts in a more efficient manner.

Merchandise Purchase

Transactions involving the buying of goods for resale in the normal course of business.

Cash Payments Journal

A financial journal that records all cash payments made by a business, including expenses, asset purchases, and debt payments.

  • Know the types of transactions recorded in specific journals.
verifed

Verified Answer

ML
Maritzaa LizetteNov 16, 2024
Final Answer:
Get Full Answer