Which of the Following Is True of a Sales Journal

question 137

Multiple Choice

Which of the following is true of a sales journal prepared under the perpetual inventory system?

• A)It includes a Cost of Goods Sold DR, Merchandise Inventory CR column.
• B)It records both cash and credit sales transactions.
• C)All transactions recorded in a sales journal are also entered in the general journal.
• D)It cannot be used with a perpetual inventory system.

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