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Cash Payments Journal
Quiz by Lorie Blevins
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6 questions
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- Q1A special journal used to record only cash payments is calledGeneral JournalCheckbookPurchases JournalCash Payments Journal30s
- Q2The retail price listed in a catalog or on an internet site is called asupplyexpensediscountlist price30s
- Q3A purchase discount is recorded in a general ledger account calledPurchases DiscountCashAccounts PayableJournal30s
- Q4What account is debited in the transaction: Purchased merchandise form Polar Refrigeration for cash.Misc. ExpenseCashAccounts PayablePurchases30s
- Q5Which account is credited in this transaction: Purchased merchandise from Polar Refrigeration for cashAccounts PayableMisc. ExpenseOffice SuppliesCash30s
- Q6What is the net price of a item with a $1000 list price having a 60% trade discountno discount1400400.0060030s