Books of Prime Entry

Question 1

Define prime entry

Answer 1

Transactions are recorded for the first time

Question 2

Define sales journal

Answer 2

When goods are sold on credit

Question 3

Define sales returns journal

Answer 3

When goods that were bought on credit are returned

Question 4

Define purchases journal

Answer 4

When goods are bought on credit

Question 5

Define purchases returns journal

Answer 5

When goods that were bought on credit were returned