Book Of Prime Entry Flashcards
What is the primary purpose of accounting records?
To record every transaction made by an organization.
What is the initial book of entry for transactions?
The book of prime entry.
Name the primary journal for credit sales.
Sales Journal (or Sales Day Book)
Name the primary journal for credit purchases.
Purchases Journal (or Purchases Day Book)
What journal is used to record customer returns?
Sales Returns Journal (or Sales Returns Day Book)
What journal is used to record supplier returns?
Purchases Returns Journal (or Purchases Returns Day Book)
Where are cash receipts from customers recorded?
Cash Receipts side of the Cash Book, under the heading “Receivables”
Where are cash payments to suppliers recorded?
Cash Payments side of the Cash Book, under the heading “Payables”
What journal is used for transactions that don’t fit into other categories?
General Journal
