Entries in the Sales Journal Are Posted to Both the Accounts

question 83

True/False

Entries in the sales journal are posted to both the accounts receivable subsidiary ledger and the general ledger.

---

Definitions:

Current Revenues

Income generated from the normal business operations within the current accounting period.

Anticipated Current Expenses

Projected expenses that a company expects to incur within the current accounting period.

Petty Cash Funds

A small amount of cash on hand used for paying minor expenses like office supplies or courier fees.

Minor Business Expenses

Smaller or less significant costs incurred in the operation of a business.