A company uses the gross method of recording purchases. An invoice was paid after the discount date. The full amount of the invoice would be recorded in the:
A) check register.
B) voucher register.
C) general journal.
D) A and B are correct.

Question

Quizplus · Accepted Answer

When a company uses the gross method of recording purchases and pays an invoice after the discount date, the full amount of the invoice is recorded in both the check register (to reflect the cash payment) and the voucher register (to record the payable and payment details). The general journal is used for adjusting entries, not for the routine recording of invoice payments.

A Company Uses the Gross Method of Recording Purchases