If a firm does not have a sales returns and allowances journal,the entries for these transactions are made in
A) the sales journal.
B) the general journal.
C) the cash receipts journal.
D) the cash payments journal.

Question

Quizplus · Accepted Answer

Sales returns and allowances are typically material enough transactions to merit their own journal, but if a firm doesn't have one, these entries should be made in the general journal.

If a Firm Does Not Have a Sales Returns and Allowances