Asked by Keneth Cheruiyot on Jun 06, 2024
Verified
A cash payments journal should not be used to record transactions which require payment by check.
Cash Payments Journal
A specialized accounting journal used to record all payments made by a business, including expenses and purchases.
- Understand the different types of journals (cash payments, cash receipts, purchases) and their respective uses in accounting transactions.
Verified Answer
SD
Sejal DaradeJun 08, 2024
Final Answer :
False
Explanation :
A cash payments journal is used to record all transactions that involve the payment of cash or checks; it is not limited to cash-only transactions.
Learning Objectives
- Understand the different types of journals (cash payments, cash receipts, purchases) and their respective uses in accounting transactions.