$$\text { Match the transactions below with the journal or ledger in which it would be entered. }$$

question 70

Multiple Choice

$$\text { Match the transactions below with the journal or ledger in which it would be entered. }$$
-Sale on account

• A)Cash receipts journal
• B)Cash payments journal
• C)Revenue journal
• D)Purchases journal
• E)General journal

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Definitions:

Information Asymmetry

A situation in which one party in a transaction has more or superior information compared to another party.

Worker

An individual engaged in a specific activity or labor, especially for pay.

Employer

An individual or organization that hires and pays workers for their services or labor.

Economics

The social science that studies how individuals, governments, firms, and nations make choices on allocating scarce resources to satisfy their unlimited wants.