Asked by
Andrew Turney
on Dec 16, 2024
Verified
Payment for supplies bought on account
A) Cash receipts journal
B) Cash payments journal
C) Revenue journal
D) Purchases journal
E) General journal
Cash Payments Journal
A financial journal that records all cash outlays or disbursements made by a company during a period.
Accounts Payable Subsidiary Ledger
A ledger containing all account details of amounts owed by a business to its suppliers or creditors, facilitating more detailed tracking alongside the general ledger.
Payment For Supplies
The monetary expenditure for obtaining supplies necessary for the operation of a business.
- Achieve proficiency in identifying the different types of journals and ledgers used in accounting.
- Ascertain the proper journal or ledger to account for diverse transactions.
Verified Answer
EC
Learning Objectives
- Achieve proficiency in identifying the different types of journals and ledgers used in accounting.
- Ascertain the proper journal or ledger to account for diverse transactions.