In a Cash Receipts Journal,________

question 150

Multiple Choice

In a cash receipts journal,________.

• A) cash sales are recorded in the Accounts Receivable CR column and the Cash DR column
• B) collections on account are recorded in the Accounts Receivable DR column and the Cash DR column
• C) the miscellaneous cash receipt transactions are ignored
• D) the cash sales are recorded in the Sales Revenue CR column

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Definitions:

Traditional Costing

An accounting method that applies indirect costs to products based on a predetermined rate, not necessarily reflecting the actual usage of resources.

Direct Labor-Hours

The total hours worked directly on a manufacturing process or project.

Traditional Costing

An accounting method that allocates manufacturing overhead costs to products based on the volume of production resources consumed.

Direct Labor-Hours

A measure of the work done by employees directly involved in the manufacturing process, counted in hours.