Which of the following statements is correct?
A) The sales journal is used for recording both cash sales and credit sales.
B) Since the sales journal is used for a single purpose,there is no need to enter any descriptions.
C) To provide an adequate audit trail,sales on credit should be recorded in both the sales journal and the general journal.
D) The complete information for each sale of merchandise on credit can be recorded on one line of the general journal.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements is correct?
A) The sales journal is used for recording both cash sales and credit sales.
B) Since the sales journal is used for a single purpose,there is no need to enter any descriptions.
C) To provide an adequate audit trail,sales on credit should be recorded in both the sales journal and the general journal.
D) The complete information for each sale of merchandise on credit can be recorded on one line of the general journal.

Which of the Following Statements Is Correct