Asked by Katey Dotson on May 18, 2024
Verified
Which one of the following columns in a cash receipts journal is not posted in total to an account in the general ledger?
A) Cash column
B) Sales Discounts column
C) Accounts Receivable column
D) Other Accounts column
Cash Receipts Journal
A specialized accounting journal used to record all cash inflow transactions.
General Ledger
A comprehensive accounting record of all transactions of a company, detailed by accounts.
Sales Discounts Column
A column in accounting ledgers or software that records the discounted amounts given to customers for prompt payments or other reasons.
- Differentiate between the uses of various journals in accounting systems.
- Comprehend the posting process from the journals to the general and subsidiary ledgers.
Verified Answer
AO
Aurelia OridaMay 23, 2024
Final Answer :
D
Explanation :
The "Other Accounts" column in a cash receipts journal includes various individual transactions that are posted to specific accounts in the general ledger individually, not in total.
Learning Objectives
- Differentiate between the uses of various journals in accounting systems.
- Comprehend the posting process from the journals to the general and subsidiary ledgers.