Asked by
Johnny Hopoff
on Nov 12, 2024Verified
A cash purchase of supplies should be recorded in the
A) cash receipts journal
B) purchases journal
C) general journal
D) cash payments journal
Cash Payments Journal
A financial journal that tracks all cash outlays of a business, including expenses, asset purchases, and debt repayments.
Cash Purchase
This term refers to a transaction where goods or services are bought and paid for with cash or cash equivalent immediately at the point of sale.
Supplies Recorded
This refers to the accounting practice of recognizing and recording office or operational supplies as expenses when they are used.
- Diagnose and classify transactions in the accurate journals.
Verified Answer
TA
Learning Objectives
- Diagnose and classify transactions in the accurate journals.