Asked by Sierra Giles on May 25, 2024
Verified
The cash payments journal only has one column because all entries recorded in this journal require a credit to the Cash account.
Cash Payments Journal
A ledger book or digital record maintaining details of all cash payments made by a business.
- Comprehend the various categories of journals such as cash payments, cash receipts, and purchases, along with their specific applications in accounting transactions.
Verified Answer
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Final Answer :
False
Explanation :
The cash payments journal typically has multiple columns to record the debit to various expense accounts or other accounts, in addition to the credit to the Cash account.
Learning Objectives
- Comprehend the various categories of journals such as cash payments, cash receipts, and purchases, along with their specific applications in accounting transactions.