Asked by stanley kimutai on May 18, 2024
Verified
If merchandise from a cash sale is returned by a customer for a refund the sales return is recorded in the
A) general journal.
B) cash receipts journal.
C) cash payments journal.
D) sales journal.
Cash Sale Return
The process of refunding a customer in cash for the return of goods previously purchased with cash.
Cash Payments Journal
An accounting journal used to record all cash payments made by a company, including expenses and debtor payments.
- Familiarize oneself with the varieties of transactions noted in distinct journals.
Verified Answer
YE
Yasemin EroltuMay 21, 2024
Final Answer :
C
Explanation :
Sales returns from cash sales where the customer receives a refund are recorded in the cash payments journal, as this journal tracks all cash outflows, including refunds to customers.
Learning Objectives
- Familiarize oneself with the varieties of transactions noted in distinct journals.
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