$$\text { Match the transactions below with the journal or ledger in which it would be entered. }$$
-Collection on account
A)Cash receipts journal
B)Cash payments journal
C)Revenue journal
D)Purchases journal
E)General journal

Question

Quizplus · Accepted Answer

Collection on account typically involves receiving cash from customers who previously bought goods or services on credit. Therefore, it is recorded in the Cash Receipts Journal, where all cash inflow transactions are documented.

Match the transactions below with the journal or ledger in which it would be entered. \text { Match the transactions below with the journal or ledger in which it would be entered. } Match the transactions below with the journal or ledger in which it would be entered.

$\text { Match the transactions below with the journal or ledger in which it would be entered. }$