Chapter 9

Question 1

Four types of Special Journal

Answer 1

1. Sales Journal
2. Purchase Journal
3. Cash Receipt Journal
4. Cash Payment Journal

Question 2

Advantages of using special Journal

Answer 2

1. Division of labor can be achieved
2. Transactions of similar nature can be recorded in the same book
3. Time and effort of posting can be saved

Question 3

use to record all sales transactions of the business

Answer 3

Sales Journal

Question 4

the date of the transactions must be written in

Answer 4

Chronological Order

Question 5

name of the customer or debtor

Answer 5

Sold to

Question 6

agreed term of discount granted by the seller to the
buyer

Answer 6

Discount Term

Question 7

the unique serial number
of the source document for identification of the transactions

Answer 7

Invoice Number or Official Receipts Number

Question 8

the amount of debt of the buyer if the transaction is
supported by a promissory note or any other legal agreement

Answer 8

Notes Receivable

Question 9

the amount of debt of the buyer if the transaction
is not supported by a promissory note or any other legal agreement

Answer 9

Accounts Receivable

Question 10

the amount received by the business from the buyer

Answer 10

Cash

Question 11

total amount of the sales transaction.

Answer 11

Sales

Question 12

use to record all purchase transaction of the business

Answer 12

Purchase Journal

Question 13

use to record all purchase transaction of the business

Answer 13

Purchase

Question 14

use to record all cash received by the business

Answer 14

Cash Receipt Journal

Question 15

use to record all cash payment made by the business

Answer 15

Cash Payment Journal

Question 16

each customer should be provided one ledger each.

Answer 16

True