Asked by Manal Al-Hashmi on Jun 03, 2024
Verified
The purchases journal is used for recording:
A) Credit purchases.
B) Credit sales.
C) Cash sales.
D) Cash purchases.
E) Cash disbursements.
Purchases Journal
A specialized accounting journal used to record all purchases of goods and services on credit.
- Understand the procedure and importance of documenting transactions in special and general journals.
Verified Answer
TD
Thien Di HoangJun 10, 2024
Final Answer :
A
Explanation :
The purchases journal is specifically used for recording credit purchases or purchases made on account.
Learning Objectives
- Understand the procedure and importance of documenting transactions in special and general journals.
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