If there is cash involved in a particular business transaction,then the transaction should be recorded in either the ________.
A)cash payments journal or cash receipts journal
B)cash payments journal or general journal
C)cash payments journal or cash receipts journal and in general journal
D)sales journal or purchases journal

Question

Quizplus · Accepted Answer

If there is cash involved in a particular business transaction, then the transaction should be recorded in either the cash payments journal or cash receipts journal, depending on whether the business paid or received cash. The general journal is used for non-routine or adjusting entries, while the sales journal and purchases journal are used for credit transactions.

If There Is Cash Involved in a Particular Business Transaction,then