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.