One of the following transactions may not be entered in the payments journal -
A)payments toward outstanding invoices
B)cash purchases
C)payments toward a credit card bill
D)all of the above may be entered in the payments journal

Question

Quizplus · Accepted Answer

All three transactions (payments toward outstanding invoices, cash purchases, and payments toward a credit card bill) can be entered in the payments journal. The payments journal is used to record all payments made by the company, regardless of the nature of the payment.

One of the Following Transactions May Not Be Entered in the Payments