Asked by Michelle Chrisette on May 06, 2024
Verified
Journalizing in a sales journal will not
A) require a debit to Accounts Receivable.
B) show a sales invoice number.
C) affect the reference column of the journal.
D) include a credit to the Sales Revenue account.
Sales Journal
A specialized accounting journal used to record all sales transactions of a business.
Sales Revenue
The income generated from selling goods or services over a specific period before deducting any costs or expenses.
Accounts Receivable
Payments due to a company from its customers for the provision of goods or services, yet to be paid.
- Learn the procedure for journalizing transactions in special and general journals.
Verified Answer
ZK
Zybrea KnightMay 08, 2024
Final Answer :
C
Explanation :
The reference column of the journal is typically used to indicate the account number affected in the ledger, which is not directly affected by the act of journalizing in a sales journal. The sales journal primarily records sales on credit, which involves debiting Accounts Receivable and crediting Sales Revenue, and each entry is supported by a sales invoice number.
Learning Objectives
- Learn the procedure for journalizing transactions in special and general journals.