Which of the Following Is TRUE of Posting Entries from a Cash

question 38

Multiple Choice

Which of the following is TRUE of posting entries from a cash payments journal?

• A) Entries in the cash payments journal are posted monthly to the accounts payable subsidiary ledger and daily to the general ledger.
• B) The postings of accounts payable are credits and increase the balance in the individual accounts payable account.
• C) After posting the payment of accounts payable, a check mark is entered in the cash payments journal and the posting reference is printed in the subsidiary ledger.
• D) At the end of the month, each column is totaled and the totals, including the Other Accounts DR column, are posted to the specific general ledger accounts.

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Definitions:

Convenience Products

Items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort.

Specialty Outlets

Specialty outlets are retail stores that focus on selling a specific category of products or services, offering a deep selection within those categories.

Convenience Stores

Convenience stores are small retail businesses that stock a range of everyday items such as groceries, snack foods, confectionery, soft drinks, tobacco products, over-the-counter drugs, toiletries, newspapers, and magazines.

Manufacturer

An entity or company that produces finished goods from raw materials in large quantities for distribution and sale.