Journals and Ledgers

Which of the following should be recorded in the general journal?

• A. Debt Written off as bad

• B. Goods returned to supplier

• C. Goods sold for cash

• D. Trade discounts allowed to customers

Which of the following states the correct order of the stages in the accounting cycle?

• A. Journalizing, posting to ledger, trial Balance, Final Accounts

• B Journalizing, trial Balance, Posting to Ledger, Final Accounts

• C. Posting to Ledger, Journalizing, Trial Balance, Final Accounts

• D. Posting to Ledger, Trial Balance, Journalizing, Final Accounts

This book of original entry is used to record all credit purchases.

Distinguish between discount received and discount allowed.

Explain THREE uses of the General Journal.

Debtors accounts are found in the_______________.