Which of the following is not typically shown as a separate column in a cash receipts journal that uses the perpetual inventory system?
A)Interest Revenue CR column
B)Cost of Goods Sold DR,Merchandise Inventory CR column
C)Sales Revenue CR column
D)Sales Discounts Forfeited CR column

Question

Quizplus · Accepted Answer

The interest revenue is not related to the perpetual inventory system and therefore is not typically shown as a separate column in a cash receipts journal that uses this system. The other choices are all commonly shown in the cash receipts journal for a perpetual inventory system.

Which of the Following Is Not Typically Shown as a Separate