If a Business Uses the Periodic Inventory System, the Sales

question 66

Multiple Choice

If a business uses the periodic inventory system, the sales journal:

• A)will record both the cash and credit sales.
• B)will include a Purchase DR and Account Receivable CR column.
• C)will exclude the Accounts Receivable DR and Sales Revenue CR column.
• D)will not include the Cost of Goods Sold DR and Merchandise Inventory CR column.