Sales on credit is recorded in which of the following journal?

Related Mcqs:

Which of the following specialized journals records “goods returned by customers”?

A. Purchase journal B. Sales journal C. Purchases return journal D. Sales return journal...

The gross decrease in economic benefits for the business are what?

A. Expenses B. Obligations C. Creditors D. Income or gain...

Which of the following relationships is/are false?

A. Net Profit = Gross Profit – Administration and Other expenses B. Net Profit = Gross Profit + Administration expenses and Other expenses C. Opening Stock + Purchases – Closing Stock = Cost of Sales D. Both B. and C. above...

Riaz holds an average inventory of 36,000(CP) with an inventory turnover of 5 times. If the firm makes a gross profit of 25% on sales, find the total sales of the company.

A. 2,40,000 B. 2,10,000 C. 2,00,000 D. 1,80,000...

Which of these is not an essential feature of a bill of exchange?

A. Unconditional B. Certainty of amount C. In writing D. Amount to be paid in foreign currency...