Asked by
brianna Cortinas
on Nov 12, 2024
Verified
Collection on account
A) Cash receipts journal
B) Cash payments journal
C) Revenue journal
D) Purchases journal
E) General journal
Cash Receipts Journal
A financial journal used to record all cash inflows, tracking receipts from sales, loans, investments, and other sources.
Revenue Journal
A specialized accounting journal used to record the company's revenue transactions, distinguishing them from other types of financial transactions.
- Understand different types of journals and ledgers used in accounting.
- Identify the appropriate journal or ledger to record various transactions.
Verified Answer
MT
Learning Objectives
- Understand different types of journals and ledgers used in accounting.
- Identify the appropriate journal or ledger to record various transactions.