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    hypervy's Avatar
    hypervy Posts: 3, Reputation: 1
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    #1

    Mar 18, 2007, 04:21 PM
    Return credit journaling
    This is a question from another take-home quiz.

    Assume that a company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. A sales return for credit on account would be recorded in the:

    Sales journal.
    General journal.
    Cash receipts journal.
    Accounts receivable ledger.
    Cash disbursements journal

    I believe the answer is the sales journal.

    Am I right?

    Please help by explaining the correct answer.

    Thanks,

    And thanks again to CaptainForest for the question last week.

    hypervy

    :confused:
    Angelhelp's Avatar
    Angelhelp Posts: 1, Reputation: 2
    New Member
    		  
    #2

    Mar 18, 2007, 05:45 PM
    Quote Originally Posted by hypervy
    This is a question from another take-home quiz.

    Assume that a company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. A sales return for credit on account would be recorded in the:

    Sales journal.
    General journal.
    Cash receipts journal.
    Accounts receivable ledger.
    Cash disbursements journal

    I believe the answer is the sales journal.

    Am I right?

    Please help by explaining the correct answer.

    Thanks,

    And thanks again to CaptainForest for the question last week.

    hypervy

    :confused:
    I agree that it is the Sales Journal (although sales returns are normally in the Sales Ledger). Do not let this confuse you.
    turtle1's Avatar
    turtle1 Posts: 2, Reputation: 1
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    #3

    Apr 9, 2012, 12:46 AM
    The answer is general ledger. I got this wrong because I went with others answers.
    turtle1's Avatar
    turtle1 Posts: 2, Reputation: 1
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    #4

    Apr 9, 2012, 12:48 AM
    Quote Originally Posted by turtle1 View Post
    The answer is general ledger. I got this wrong because I went with others answers.
    General journal***
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