Which of the Following Is True of Posting from a Sales

question 99

Multiple Choice

Which of the following is true of posting from a sales journal to the general ledger?

• A)Entries in the sales journal are posted to either the accounts receivable subsidiary ledger or the general ledger.
• B)Individual accounts receivable are posted daily from the sales journal to the accounts receivable subsidiary ledger.
• C)Though the sales journal is posted monthly to the subsidiary ledger, it is a reliable record of the amount receivable from each customer.
• D)Under a perpetual inventory system, the sales journal will not have the Cost of Goods Sold DR and Merchandise Inventory CR column.

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Definitions:

Past Business Contracts

Previous agreements or legal obligations between parties in a business context.

Customers

Individuals or organizations that purchase goods or services from a company.

Location

The physical place where a business is situated, which can significantly impact its success due to factors such as accessibility, market presence, and competition.

Business Valuation

The process of determining the overall economic value of a business entity, considering factors such as market conditions, assets, liabilities, and earning potential.