Assuming the use of special journals,borrowing $10 000 from the bank would be recorded in the:
A)cash receipts journal.
B)sales journal.
C)general journal.
D)cash payments journal.

Name: Assuming the use of special journals,borrowing $10 000 from the bank would be recorded in the: A)cash receipts journal. B)sales journal. C)general journal. D)cash payments journal.
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Question

Quizplus · Accepted Answer

Borrowing $10,000 from the bank results in an increase in cash, which is recorded in the cash receipts journal.

Assuming the Use of Special Journals,borrowing $10 000 from the Bank