If there is cash involved in a particular business transaction then the transaction should be recorded in either:
A)cash payments journal or cash receipts journal.
B)cash payments journal or general journal.
C)cash payments journal or cash receipts journal and in general journal.
D)sales journal or purchases journal.

Question

Quizplus · Accepted Answer

A business transaction involving cash should be recorded in either the cash payments journal if cash is paid out or the cash receipts journal if cash is received. The general journal is reserved for other types of transactions that don't involve cash. The sales journal and purchases journal are used for transactions related to sales and purchases on account, respectively, not for transactions involving cash.

If There Is Cash Involved in a Particular Business Transaction