A companyreturns defective supplies that were purchased for cash andreceives a c

Question

A companyreturns defective supplies that were purchased for cash andreceives a cash refund. This transaction should be recordedin the

1. Cash Receiptsjournal

2. Generaljournal

3. Purchasesjournal

4. Revenuejournal

A companyreturns defective supplies that were purchased for cash andreceives a cash refund. This transaction should be recordedin the

1. Cash Receiptsjournal

2. Generaljournal

3. Purchasesjournal

4. Revenuejournal

The cash receipts journal will be used for
1. all cash received.

2. only cash received fromcustomers on account.

3. only cash received fromcash sales.

4. cash received fromcustomers on account and cash

Explanation / Answer

2. 3.Purchases journal 3. 1. all cash received. 4. 4.Accounts Payable 5. 1. subsidiary ledger

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