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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

The journal that should be used to record the return of merchandise for credit is the

  1. (a) purchases journal.
  2. (b) cash payments journal.
  3. (c) general journal.
  4. (d) accounts payable journal.

To determine

Find the correct option that should be used to record the return of merchandise for credit.

Explanation

General Journal: It is a book where all the monetary transactions are recorded in the form of journal entries on the date of their occurrence in a chronological order.

The general journal is used in a manual accounting information system in the following situations:

  • When the business transactions cannot be recorded in the special journals.
  • When the business transactions are infrequent.

The following are the examples of transactions that would be recorded in the general journal:

  • Sales returns and allowances...

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