Books Of Prime Entry

Question 1

What is a book of prime entry

Answer 1

Which transactions are recorded before being entered in the ledger

Question 2

What are the 7 types of books of prime entry

Answer 2

-cashbook
-petty cash books
-sales journal
-purchases journal
-sales return journal
-purchase return journal
-general journal

Question 3

What is the sales journal

Answer 3

Shows a list of the names of businesses to which credit sales have been made,the value of the goods sold and the date on which the sales were made

Question 4

What is sales return journal

Answer 4

Shows list of the names of the businesses which have returned goods previously sold in credit ,the value of the goods returned and the date of which the returns were made

Question 5

What is the purchase journal

Answer 5

Shows the list of names of the businesses from which credit purchases have been made,the value of goods purchased and the date on which the purchases were made

Question 6

What is the purchases returns journal

Answer 6

Shows a list of the names of businesses to which goods precisely purchased on credit have been returned,the value of the goods returned and the date on which the returns were made