General Journal Flashcards
1
Q
Sales day book
A
To record goods sold to our customers on credit
2
Q
Purchases Day Book
A
To record goods Purchased from the business’ suppliers on credit.
3
Q
Return Inwards Day Book
A
to keep record good returned to us by our debtors
4
Q
Return Outwards Day Book
A
to keep record good returned BY us to our suppliers
5
Q
Petty Cash Book
A
To record small expenses of the business
6
Q
Cash Book
A
To record bank and cash transactions.
7
Q
General Journal
A
To keep record extraordinary transactions.
8
Q
What is bad debt?
A
bad debt is a type of expense that occurs after repayment by a customer is no longer considered to be collectable.
