The special journals under the perpetual inventory system
A)Include an additional cost of goods sold journal.
B)Include an additional inventory journal.
C)Include an additional sales tax payable journal.
D)Include the sales journal, cash receipts journal, purchases journal, and cash disbursements journal.
E)Include both an additional inventory journal and an additional cost of goods sold journal.

Question

Quizplus · Accepted Answer

Under the perpetual inventory system, the special journals typically include the sales journal, cash receipts journal, purchases journal, and cash disbursements journal. These journals are used to record transactions related to sales, cash receipts, purchases, and cash payments, respectively.

The Special Journals Under the Perpetual Inventory System