Asked by Nolan Blackwell on May 11, 2024
Verified
In which journal would adjusting entries be found?
A) cash receipts journal
B) cash payments journal
C) general journal
D) purchases journal
General Journal
A primary accounting record where all types of financial transactions are initially recorded using the double-entry bookkeeping method.
Adjusting Entries
Journal entries made at the end of an accounting period to update account balances before financial statements are prepared.
Cash Receipts Journal
An accounting ledger that tracks all cash inflows to a business, documenting sources of revenue or income.
- Distinguish between transactions to be documented in general journals as opposed to those for special journals.
Verified Answer
Learning Objectives
- Distinguish between transactions to be documented in general journals as opposed to those for special journals.
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