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For each of the transactions listed below, identify the journal that should be used to record the transaction. Use CR for cash receipts journal, CP for cash payments journal, S for sales journal, P for purchases journal, and G for general journal.
Receivables Balance
The total amount of money owed to a company for goods or services delivered or used but not yet paid for by customers.
Average Daily Sales
The average sales generated per day over a specific period, useful for analyzing business performance.
Average Collection Period
The average amount of time it takes for a company to receive payments owed by its customers, indicating the efficiency of the company's credit and collection policies.
Cost Of Default
The expenses and financial losses incurred when a borrower fails to make a loan payment on time.
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