Asked by
MERCEDES WELCH
on Nov 12, 2024
Verified
Sale on account
A) Cash receipts journal
B) Cash payments journal
C) Revenue journal
D) Purchases journal
E) General journal
Revenue Journal
The revenue journal is a ledger book or digital record in accounting that tracks all incoming earnings or revenue transactions generated by business operations.
Cash Receipts Journal
A specific accounting journal used to record all receipts of cash during a particular period.
Sale On Account
A transaction where goods are sold and payment is deferred to a later date, creating an account receivable for the seller.
- Learn about the diverse forms of journals and ledgers that are fundamental to accounting methodologies.
- Distinguish the correct journal or ledger for maintaining records of different transactions.
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Learning Objectives
- Learn about the diverse forms of journals and ledgers that are fundamental to accounting methodologies.
- Distinguish the correct journal or ledger for maintaining records of different transactions.