In a firm that uses special journals,the return of damaged merchandise to a supplier and receipt of a credit memorandum is recorded in the
A) cash payments journal.
B) cash receipts journal.
C) purchases journal.
D) general journal.

Question

Quizplus · Accepted Answer

The return of damaged merchandise and receipt of a credit memorandum is a non-cash transaction that doesn't fit into the specialized journals for cash payments, cash receipts, or purchases, so it is recorded in the general journal.

In a Firm That Uses Special Journals,the Return of Damaged