Special Journals

Special journals are books of ______________ that record specific transactions.

• Original entries

• Secondary entries

• Final entries

• None of the above

All of the choices below are examples of transactions that are recorded in the general journal, except:

• Original investments of the owner

• Closing and reversing entries

• Owner’s withdrawal in cash

• Adjusting and correcting journal entries

Sale of merchandise on an account is recorded in Cash Receipts Journal.

• True

• False

There can be division of labor when special journals are used.

• True

• False

At the end of each month, entries in the Special Journals are totaled while the entries in the General Journals are not.

• True

• False

What is the corresponding journal entry of the transaction?

Purchased merchandise on account costing Php 10,000 from Indian Palace. Term: 2/10, N/30.

• Debit: Accounts Receivable, Credit: Sales

• Debit: Purchases, Credit: Accounts Payable

• Debit: Accounts Payable, Credit: Purchases

• Debit: Accounts Payable, Credit: Purchase Discount

The pro-forma journal entry of a _______________ is:

Dr. Purchases xx

Cr. Accounts Payable xx

• Sales Journal

• Cash Receipts Journal

• Cash Disbursements Journal

• Purchases Journal

The pro-forma journal entry of a _______________ is:

Dr. Accounts Receivable xx

Cr. Sales xx

• Sales Journal

• Cash Receipts Journal

• Cash Disbursements Journal

• Purchases Journal

When special journals are used, which of the following is true?

• A general journal is used.

• All sales receipts should be recorded in the cash receipts journal.

• All cash receipts should be recorded in the cash receipts journal.

• All purchase transactions should be recorded in the purchase journal.

When special journals are used, adjusting and closing entries are generally recorded in the

• Cash Disbursements Journal

• Cash Receipts Journal

• General Journal

• Purchases Journal