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Payton Easterling
on Nov 14, 2024

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Credit sales of assets other than merchandise are recorded in the

A) cash payments journal.
B) cash receipts journal.
C) general journal.
D) sales journal.

General Journal

The general journal is an initial record where all transactions are first entered in accounting, using a double-entry system before posting to individual accounts.

Credit Sales

Deals in which a customer receives goods or services with the understanding that they will pay for them at a future time.

Sales Journal

A specialized journal used to record and track all sales of merchandise on credit, centralizing sales data for easier management.

  • Understand the method of recording and posting entries in specialized journals.
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Angelica DianaNov 16, 2024
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