Entries in a Sales Journal Are

question 86

Multiple Choice

Entries in a sales journal are

• A) posted only to accounts in an accounts receivable subsidiary ledger.
• B) posted only to accounts in the general ledger.
• C) posted to accounts in an accounts receivable subsidiary ledger and to accounts in the general ledger.
• D) never posted.

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Definitions:

Nominal Rate

The nominal rate is the interest rate stated on a loan or investment agreement, not accounting for inflation or other factors that affect the real rate of return.

Compound Annual Rate

The rate at which an investment grows annually when interest is reinvested to earn additional interest.

Nominal Rate

The interest rate before adjustments for inflation or other factors, often referred to as the stated or face interest rate.

Compounded Quarterly

A method of calculating interest where the accrued interest is added to the principal sum every quarter, thus increasing the base for the next interest calculation.