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Transactions recorded in the cash receipts journal are, all receipts of cash.
Primary books of accounts are those books in which business transactions are recorded at first, i.e., journals - special journals as well as general journal.
Sales returns journal records all sales return transactions only and no other transaction of business is recorded.
Journal
Chronological order
general journal.
Transactions recorded in the cash receipts journal are, all receipts of cash.
Primary books of accounts are those books in which business transactions are recorded at first, i.e., journals - special journals as well as general journal.
Sales returns journal records all sales return transactions only and no other transaction of business is recorded.
Journal
Chronological order
journal
An accounting record where all business transactions are originally entered. A journal details which transactions occurred and what accounts were affected. Journal entries are usually recorded in chronological order, and using the double-entry method of bookkeeping.
C. a Journal
In every business,all the transactions are recorded through the journal.one journal is sufficient to small business concerns to record all the transaction of the business.but in case of big concerns,the journal is sub-divided into various books i.e. Cash book,purchase book,sales book etc. and the transactions relating to the same group are recorded in one and respective book only.In addition to these books,journal is maintained for recording the transaction,not relating to any one of the above books.the book thus maintained is called Journal Proper.This journal proper is similar to the journal in ruling and form. sometimes,journal is sub-divided but all the books are not maintained.then in the journal proper,the transactions relating to the unmaintained journals are also recorded.
When the size of business and number of transactions are large, recording of transactions in one journal will be inconvenient. It will also cause delay in collection and presentation of accounting information. Many of the transactions are repetitive in nature. If separate journals are maintained for recording transactions of a similar character, journalizing and posting will be easier and more convenient. For example, all cash transactions can be recorded in one ledger; all credit sales in another journal and so on.
When the size of business and number of transactions are large, recording of transactions in one journal will be inconvenient. It will also cause delay in collection and presentation of accounting information. Many of the transactions are repetitive in nature. If separate journals are maintained for recording transactions of a similar character, journalizing and posting will be easier and more convenient. For example, all cash transactions can be recorded in one ledger; all credit sales in another journal and so on.