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What else can I help you with?
Do you only record credit transactions in general journal?
we can also record cash transactions too
A record in which transactions are recorded first is what?
Journal
What is difference between a cash payment journal and a purchases journal?
a cash payment journal is used to record only cash payment transactions where as the purchases journal is used to record ONLY purchases on account transactions
What are name of record of transactions?
It is termed as Journal entry.
What is recording phase of accounting?
Recording phase of accounting is to record the transactions into journal after transactions occured.
What is proper journalism?
The Journal Proper is the record both in which miscellaneous credit transactions are entered that do not fit in other books. It is also called the Journal Residual or the General Journal.
Difference between a general journal and a specialized journal?
A general journal is uesd to record infrequent or nonroutine transactions, such as lan payments and end-of-period adjusting and closing entries. A specialized journal records large numbers of repetitive transactions such as sales, cash receipts, and cash disbursements.
Where can one find a book to record cash transactions?
A book to record cash transactions, or journal, can be found in any office supply store such as Staples or OfficeMax. Many mass retailers will carry them as well.
Explain the meaning of term journal and state its significance?
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.
General journal entries?
Journal Entries are used to record accounting transactions. blady bastered............
What is the use of a sales journal?
A sales journal is used to record all sales transactions made by a company. It helps track sales revenue, monitor the performance of salespeople, and provide a detailed record for financial reporting and analysis.
Describe a business situation that would not require a specialized journal?
A small retail store that primarily deals with cash transactions and simple inventory tracking may not require a specialized journal. In this case, a general journal to record daily transactions and a ledger to track accounts would suffice without the need for specialized journals like a sales journal or purchases journal.
