A payment that is received would most likely be recorded directly in that company's:
A)general ledger.
B)cash disbursements journal.
C)cash receipts journal.
D)trial balance.

Question

Quizplus · Accepted Answer

A payment that is received should be recorded in the company's cash receipts journal. This journal is used to track all incoming cash transactions, including payments from customers or other sources of revenue. The general ledger is a summary of all accounts, and the trial balance is a summary of all accounts at a specific point in time. The cash disbursements journal is used to track outgoing cash transactions, such as payments to vendors or suppliers.

A Payment That Is Received Would Most Likely Be Recorded